Moody’s rates Gallagher notes Baa2

Moody's Investors Service said it gave Baa2 ratings to the $400 million of 10-year and the $350 million of long 30-year senior unsecured notes being sold by Arthur J. Gallagher & Co.

The agency assigned the company the Baa2 senior unsecured rating on May 12.

The company intends to use the proceeds for general corporate purposes, which might include funding a portion of its acquisition of the treaty reinsurance brokerage operations of Willis Towers Watson plc.

The outlook is unchanged at stable.

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