A.M. Best Assigns Ratings to Infinity Property & Casualty Corporation’s New Shelf Registration Business Wire OLDWICK, N.J. -- June 10, 2013 A.M. Best Co. has assigned indicative ratings of “bbb” on senior unsecured debt, “bbb-” on subordinated debt and “bb+” on junior subordinated debt, preferred stock and trust preferred securities to the recently filed $300 million shelf registration of Infinity Property & Casualty Corporation (IPCC) (Birmingham, AL) [NASDAQ:IPCC]. The outlook assigned to these ratings is stable. In one or more offerings, Infinity Capital Trust I may issue trust preferred securities that will be unconditionally guaranteed by IPCC. IPCC’s existing shelf, with $25 million remaining, will expire in September 2013. At March 31, 2013, IPCC’s adjusted debt-to-total capital ratio was calculated at approximately 30%. Over the medium term, IPCC’s financial leverage and coverage ratios are expected to remain within A.M. Best’s guidelines for its current ratings. 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 www.ambest.com/ratings/methodology. 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. Contact: A.M. Best Co. Senior Financial Analyst Kenneth Tappen, 908-439-2200, ext. 5248 firstname.lastname@example.org or Senior Manager, Public Relations Rachelle Morrow, 908-439-2200, ext. 5378 email@example.com or Assistant Vice President Joseph Burtone, 908-439-2200, ext. 5125 firstname.lastname@example.org or Assistant Vice President, Public Relations Jim Peavy, 908-439-2200, ext. 5644 email@example.com
A.M. Best Assigns Ratings to Infinity Property & Casualty Corporation’s New Shelf Registration
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