Fitch rates Verisk notes A

Fitch Ratings said it assigned A long-term issuer default ratings to Verisk Analytics, Inc. and Insurance Services Office, Inc. Fitch assigned an A rating to Verisk's proposed bond issuance. The companies' F1 short-term issuer default ratings and Insurance Services Office's A revolving credit facility remain unchanged.

The outlook is stable.

Proceeds are expected to be used to repay borrowings under Insurance Services Office's credit facility and for general corporate purposes.

The ratings consider Verisk's dominant market position within its property and casualty insurance related businesses, Fitch said.

The ratings consider that the company has the ability to organically grow revenues at least in the low single digits during an economic downturn, the agency said.

The ratings are constrained by Verisk's lack of ownership with respect to its core insurance related data and the potential for increased data cost, the agency added.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.