Fitch rates Liberty Mutual notes BBB-

Fitch Ratings said it expects to assign a rating of BBB- to Liberty Mutual Group, Inc.'s €750 million issuance of 10-year senior unsecured notes.

The proceeds will be used for general corporate purposes.

This new issue is rated equivalent to the ratings of the company's existing senior debt, Fitch said.

Financial leverage was about 28.3% and GAAP fixed-charge coverage 6.5x at year-end 2015, the agency said.

This issuance, using the current dollar-to-euro exchange rate, will result in pro forma financial leverage of 30.6% and GAAP fixed-charge coverage of 6.2x, Fitch said.

The outlook is stable.

The company currently has an issuer default rating of BBB and stable outlook.

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