Fitch rates Global Atlantic notes BBB

Fitch Ratings said it assigned an expected BBB rating to Global Atlantic Financial Group’s first offering of senior unsecured, long-term notes maturing 2029.

The notes will be offered by Global Atlantic (Fin) Co. and are fully guaranteed by Global Atlantic Financial Ltd.

Both Global Atlantic (Fin) Co. and Global Atlantic Financial Ltd. are rated BBB+.

The notes have been assigned a rating one notch below the long-term issuer rating, which reflects standard notching based on Fitch’s rating criteria, the agency said.

Proceeds will be used to pay down borrowings on the revolver and for general corporate purposes.

© 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.