A.M. Best Assigns Debt Rating to Unitrin Inc.'s Senior Unsecured Notes.OLDWICK, N.J. -- A.M. Best Co. has assigned a debt rating of "bbb" to $360 million 6.00% senior unsecured Unsecured A loan or equity interest that is given without any guarantee of payment, performance, satisfaction or opportunity for return from the recipient. No property, interest or security is used as collateral in either a guarantee or a pledge. notes issued on May 11, 2007, by Unitrin, Inc. (Chicago, IL) [NYSE NYSE See: New York Stock Exchange : UTR UTR Untranslated Region (genetics) UTR Unicode Technical Report UTR Unique Taxpayer Reference (UK Inland Revenue) UTR Unable to Reach UTR Unable to Reproduce UTR University Technical Representative ] (Unitrin). The rating outlook is stable. The notes have a 10-year scheduled maturity. The proceeds will be used to repay $300 million of senior notes that mature on July 1, 2007 and for general corporate purposes. Unitrin's financial leverage, while still moderate, has increased slightly, with debt to capital at 19%. Its ratio of earnings to fixed charges will be slightly under 5.5 times. For Best's Debt Ratings, all other Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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