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S&P rates Alleghany notes BBB+
S&P said it assigned its BBB+ rating to Alleghany Corp.’s $500 million of 3.625% senior unsecured notes due 2030.
Alleghany intends to use the proceeds for general corporate purposes, which may include the repayment of existing debt.
“The notes will not be guaranteed by any of the company’s subsidiaries and will be structurally subordinated to all existing and future indebtedness and other liabilities of its subsidiaries,” S&P said in a press release.
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