S&P gives Liberty Mutual notes BBB

Standard & Poor's said it assigned its BBB preliminary rating to Liberty Mutual Group Inc.'s proposed issuance of euro-denominated senior unsecured notes.

Proceeds will be used for general corporate purposes.

The company expects the company to maintain financial leverage of less than 25% by year-end 2016. It also expects EBITDA (excluding net realized gains and losses from investments and noneconomic/asymmetrical impact of derivatives) fixed-charge coverage to be at least 8 times in 2015 and 2016.

© 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.