A.M. Best Assigns Ratings to Infinity Property & Casualty Corporation’s New
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
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 Co.
Senior Financial Analyst
Kenneth Tappen, 908-439-2200, ext. 5248
Senior Manager, Public Relations
Rachelle Morrow, 908-439-2200, ext. 5378
Assistant Vice President
Joseph Burtone, 908-439-2200, ext. 5125
Assistant Vice President, Public Relations
Jim Peavy, 908-439-2200, ext. 5644
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