Moody's: Liberty Mutual notes Baa2

Moody's Investors Service said it assigned Baa2 ratings to $250 million of 10-year senior notes and $250 million of 30-year senior notes being issued by Liberty Mutual Group Inc. through the reopening of a similar offering completed on May 4.

The notes rank equally with Liberty Mutual's existing and future unsecured senior debt and are irrevocably and unconditionally guaranteed on a senior unsecured basis by each of Liberty Mutual Holding Company Inc. and LMHC Massachusetts Holdings Inc.

Net proceeds from the offering are expected to be used to redeem upcoming maturing notes and for general corporate purposes.

The outlook is stable.

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