Fitch assigns BBB to Alleghany debt

Fitch Ratings said it assigned a BBB rating to Alleghany Corp.’s $300 million 4.9% senior unsecured debt issuance due 2044.

The rating is equivalent to the ratings on Alleghany's existing senior unsecured notes.

Proceeds will be used to redeem a portion of the $667 million 5.75% senior notes due December 2015 of the company’s subsidiary, Transatlantic Holdings, Inc.

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