S&P: Liberty Mutual notes BBB-

Standard & Poor's said it assigned its BBB- issue-level rating to Liberty Mutual Group Inc.'s $1 billion senior unsecured notes.

According to S&P, the issuance of new unsecured senior notes will not materially change Liberty Mutual's adjusted debt and financial leverage ratios.

The agency said the ratings reflect the group's strong and well-diversified business mix by product and geographic region. The group also benefits from strong investments and very strong liquidity, as well as favorable expense differentiation, the agency said.

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