S&P assigns Liberty Mutual notes BB+

Standard & Poor's said it assigned its BB+ junior subordinated debt rating to Liberty Mutual Group Inc.'s series C junior subordinated notes in an amount up to $1.25 billion with a scheduled maturity date of 2058.

At the same time, S&P said it placed this rating on CreditWatch with negative implications.

The agency added that it placed the ratings on Liberty Mutual and its insurance affiliates on CreditWatch negative on April 23, following the company's announcement that it has signed a definitive agreement to purchase Safeco Corp. for about $6.2 billion in cash.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.