OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best Co. has assigned a debt rating of “bbb” to $130 million 5.70% senior unsecured fixed interest notes due in 2022 of the recently filed offering by Lancashire Holdings Limited (Lancashire Holdings) (Hamilton, Bermuda). (LSE: LRE).
The net proceeds from the debt issuance will be used for general corporate purposes.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Key criteria utilized include: “Insurance Holding Company and Debt Ratings”; “Catastrophe Analysis in A.M. Best Ratings”; “Risk Management and the Rating Process for Insurance Companies”; and “Understanding Universal BCAR.” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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A.M. Best Co.
Gale Guerra, 908-439-2200, ext. 5069
Senior Financial Analyst
Robert DeRose, 908-439-2200, ext. 5453
Rachelle Morrow, 908-439-2200, ext. 5378
Senior Manager, Public Relations
Jim Peavy, 908-439-2200, ext. 5644
Assistant Vice President, Public Relations
Source: A.M. Best Co.