A.M. Best Assigns Rating to AmTrust Financial Services, Inc.’s Forthcoming
Preferred Share Offering
OLDWICK, N.J. -- June 6, 2013
A.M. Best Co. has assigned a debt rating of “bb+” to the forthcoming $115
million 6.75% non-cumulative perpetual preferred stock of AmTrust Financial
Services Inc. (AmTrust) (headquartered in New York, NY) (NASDAQ: AFSI). The
outlook assigned is stable. All remaining ratings of AmTrust and its
subsidiaries are unchanged. (Please see A.M. Best’s press release dated May
The proceeds from the issuance will be used in continued support and
development of AmTrust’s business and for other general corporate purposes.
With the issuance of the preferred shares, AmTrust’s adjusted debt-to-total
capital and adjusted debt-to-tangible capital is approximately 17% and 26%,
respectively, and are within A.M. Best’s guidelines for its current rating
level. In addition, AmTrust’s interest coverage ratio is expected to remain
adequate for its rating.
The methodology used in determining these ratings is Best’s Credit Rating
Methodology, which provides a comprehensive explanation of A.M. Best’s rating
process and contains the different rating criteria employed in the rating
process. Best’s Credit Rating Methodology can be found at
A.M. Best Company is the world’s oldest and most authoritative insurance
rating and information source. For more information, visit www.ambest.com.
Copyright © 2013 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
A.M. Best Company, Inc.
Senior Financial Analyst
908-439-2200, ext. 5138
Senior Manager, Public Relations
908-439-2200, ext. 5378
Michael Lagomarsino, CFA
Assistant Vice President
908-439-2200, ext. 5810
Assistant Vice President, Public Relations
908-439-2200, ext. 5644
Press spacebar to pause and continue. Press esc to stop.