We could not find any results for:
Make sure your spelling is correct or try broadening your search.
Share Name | Share Symbol | Market | Type |
---|---|---|---|
Markel Group Inc | NYSE:MKL | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
14.82 | 1.02% | 1,473.22 | 1,484.68 | 1,449.35 | 1,449.35 | 14,956 | 16:17:01 |
AM Best has assigned Long-Term Issue Credit Ratings of bbb+ to the forthcoming $300 million 3.350% senior unsecured notes due Sept. 17, 2029, and the $500 million 4.150% senior unsecured notes due Sept. 17, 2050, recently announced by Markel Corporation (Markel) (Glen Allen, VA) (NYSE:MKL). The outlook assigned to these Credit Ratings (ratings) is stable. All other existing ratings of Markel and its subsidiaries are unchanged.
The proceeds from the issuance will be used in the redemption of up to $600 million in senior unsecured notes of Markel and its Alterra Finance LLC subsidiary, for which Markel announced a tender offer on Sept. 12, 2019, and for general corporate purposes.
Following the completion of this debt offering and the redemption of the referenced securities, AM Best expects Markel’s debt-to-total capital ratio to be unchanged and to remain within the guidelines for the current ratings. Markel’s coverage metrics will be improved by the issuance of the lower-coupon securities and similarly, will remain within guidelines.
This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190913005305/en/
Jennifer Marshall, CPCU, ARM Director +1 908 439 2200, ext. 5327 jennifer.marshall@ambest.com
Michael J. Lagomarsino, CFA, FRM Senior Director +1 908 439 2200, ext. 5810 michael.lagomarsino@ambest.com
Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com
Jim Peavy Director, Public Relations +1 908 439 2200, ext. 5644 james.peavy@ambest.com
1 Year Markel Chart |
1 Month Markel Chart |
It looks like you are not logged in. Click the button below to log in and keep track of your recent history.
Support: +44 (0) 203 8794 460 | support@advfn.com
By accessing the services available at ADVFN you are agreeing to be bound by ADVFN's Terms & Conditions