AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “a-” (Excellent) to the forthcoming $350 million, 3.150% senior unsecured notes, due September 2061, to be issued by W. R. Berkley Corporation (WRB) (Greenwich, CT) [NYSE: WRB]. The outlook assigned to this Credit Rating (rating) is stable.

Proceeds will be used for general corporate purposes. Following the issuance of the notes, WRB’s financial leverage is expected to remain within AM Best’s guidelines for the assigned rating. Debt-to-total capital will measure 27.2%, adjusted for equity credit for hybrid securities, and coverage metrics also will remain within AM Best’s guidelines at just over five times.

This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2021 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Kate Steffanelli Senior Financial Analyst +1 908 439 2200, ext. 5063 kate.steffanelli@ambest.com

Jennifer Marshall Director +1 908 439 2200, ext. 5327 jennifer.marshall@ambest.com

Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com

Jim Peavy Director, Communications +1 908 439 2200, ext. 5644 james.peavy@ambest.com

WR Berkley (NYSE:WRB)
Historical Stock Chart
From Dec 2021 to Jan 2022 Click Here for more WR Berkley Charts.
WR Berkley (NYSE:WRB)
Historical Stock Chart
From Jan 2021 to Jan 2022 Click Here for more WR Berkley Charts.