A.M. Best Co. Wednesday assigned an indicative rating of a-minus to the subordinated notes that Zurich Finance (USA) Inc. plans to issue with a guarantee from Zurich Insurance Co.
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The rating outlook is stable, the Oldwick, N.J., ratings agency said, and the existing ratings of Zurich Financial Services Group are unchanged.
The notes are to be issued under the parent group's European medium-term program. A.M. Best said it expects the proceeds to be used for general business operations and to refinance debt.
