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Fitch rates American Financial notes BBB+
Fitch Ratings said it expects to assign a BBB+ rating to American Financial Group Inc.'s proposed $132 million issue of senior notes due 2050.
American Financial has an issuer default rating at A-, and senior debentures due 2034 and 9.875% senior notes due 2019 rated BBB+.
American Premier Underwriters, Inc. has an issuer default rating at A- and 10.875% subordinated notes due 2011 at BBB.
The outlook is stable.
Proceeds will be used for general corporate purposes.
Ratings reflect consistently good operating performance, particularly in its specialty property and casualty operations, Great American Insurance Co., as well as solid statutory capital levels and a strong liquidity position, the agency said.
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