Business Wire | Sep 15, 2020 09:12AM EDT

AM Best Assigns Issue Credit Rating to Chubb INA Holdings Inc.'s Senior Unsecured Notes

Sep. 15, 2020

OLDWICK, N.J.--(BUSINESS WIRE)--Sep. 15, 2020--AM Best has assigned a Long-Term Issue Credit Rating of "a+" to Chubb INA Holdings Inc.'s (Chubb) (Delaware) recently announced $1 billion 1.375% 10-year senior unsecured notes offering. These notes will be guaranteed by Chubb Limited [NYSE: CB]. The outlook assigned to the Credit Rating (rating) is stable.

Immediately following the senior unsecured notes issuance, Chubb's financial leverage and coverage measures will deteriorate slightly but remain strongly supportive of the assigned ratings. Chubb intends to use the net proceeds of the offering to repay at maturity the $1 billion principal amount of its 2.875% senior unsecured notes due Nov. 3, 2022.

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 media use of Best's Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best's Credit Ratings and AM Best Rating Action Press Releases.

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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

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