Fitch rates Chubb notes A

Fitch Ratings said it assigned an A rating to Chubb INA Holdings Inc.'s €1.15 billion senior unsecured notes issuance.

The notes are fully and unconditionally guaranteed by Chubb Ltd.

The issuance ranks pari passu with Chubb's currently outstanding unsecured notes, the agency said, and are rated equivalently.

The existing ratings assigned to Chubb are unaffected by this action, Fitch noted.

The rating assigned to the new senior unsecured notes is equivalent to Chubb's existing senior unsecured ratings, the agency said.

The proceeds from the note issuance will be used to repay at maturity the $1.3 billion principal amount of Chubb INA's 2.3% senior notes due Nov. 3, 2020, Fitch said.

The ultimate net impact on the financial leverage ratio is zero, the agency said.

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