Fitch boosts Liberty Mutual

Fitch Ratings said it upgraded the following ratings: Liberty Mutual Group Inc.'s --issuer default rating to BBB+ from BBB and senior unsecured notes to BBB from BBB- as well as Liberty Mutual Insurance Co.'s issuer default rating to A- from BBB+ and surplus notes to BBB+ from BBB, and Ohio Casualty Corp.'s issuer default rating to BBB+ from BBB and senior unsecured notes to BBB from BBB-.

Additionally, Fitch said it has assigned a BBB- rating to Liberty Mutual Group's previously issued $1 billion issue of junior subordinated notes and has affirmed the F2 rating on the company's short-term issuer default rating and $1 billion commercial paper program.

Fitch noted that its rating actions reflect Liberty Mutual Group's continued improvements in run rate profitability and Fitch's heightened comfort with the company's capital adequacy.

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