Fitch rates Liberty Mutual notes BBB-

Fitch Ratings said it assigned a BBB- rating to Liberty Mutual Group Inc.’s new $750 million issuance of 4.85% senior debt due 2044.

The company’s new debt issuance ranks equally with the group’s existing and future unsecured senior indebtedness.

The proceeds will be used to help finance a previously announced adverse development cover with National Indemnity Co. (NICO) for substantially all of Liberty Mutual’s U.S. workers compensation, asbestos and environmental liabilities, Fitch said.

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