A.M. Best Assigns Debt Rating to CNA Financial Corporation’s Forthcoming
OLDWICK, N.J. -- February 25, 2014
A.M. Best has assigned a debt rating of “bbb” to the forthcoming $550 million
3.95% senior unsecured notes due May 2024 to be issued by CNA Financial
Corporation (CNAF) (headquartered in Chicago, IL) [NYSE: CNAF]. The outlook
assigned is stable.
CNAF intends to use the net proceeds to repay at maturity its $549 million of
5.85% senior notes due December 2014. The company’s financial leverage and
coverage measures will remain within A.M. Best’s guidelines for the assigned
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 © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
A.M. Best Company
Senior Financial Analyst
(908) 439-2200, ext. 5138
Assistant Vice President
(908) 439-2200, ext. 5327
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(908) 439-2200, ext. 5378
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
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