A.M. Best Assigns Rating to W.R. Berkley Corporation’s Subordinated Debentures
A.M. Best has assigned an issue rating of “bbb+” to the recently announced $290 million 5.75% subordinated debentures due
2056 of W.R. Berkley Corporation (WRB) (Greenwich, CT) [NYSE:WRB]. The outlook assigned to the rating is stable. The
existing ratings of WRB and its subsidiaries are unchanged.
The offering is made pursuant to WRB’s shelf registration on file with the U.S. Securities and Exchange Commission. Proceeds
from the sale will be used for general corporate purposes. The addition of the debentures will modestly increase WRB’s financial
leverage and interest obligations, but leverage and coverage are expected to remain within A.M. Best’s guidelines for its current
ratings.
This press release relates to rating(s) that have been published on A.M. Best’s website. For all rating information
relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual
ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information,
visit www.ambest.com.
Copyright © 2016 by A.M. Best Rating Services, Inc. ALL RIGHTS RESERVED.
A.M. Best
Jennifer Marshall, +1 908-439-2200, ext. 5327
Assistant Vice President
jennifer.marshall@ambest.com
or
Christopher Sharkey, +1 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Michael J. Lagomarsino, CFA, FRM, +1 908-439-2200, ext. 5810
Vice President
michael.lagomarsino@ambest.com
or
Jim Peavy, +1 908-4390-2200, ext. 5644
Assistant Vice President, Public Relations
james.peavy@ambest.com
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