Fitch affirms Assurant

Fitch Ratings said it affirmed Assurant Inc.'s long-term issuer default rating at BBB+, $500 million senior notes due 2014 at BBB and $475 million senior notes due 2034 at BBB.

The outlook is stable.

Ratings reflect continued solid earnings, adequate capitalization and strong niche market positions with long-standing distribution partnerships, the agency said.

While a prolonged economic slowdown could pressure several of Assurant's businesses, its largest segment, which focuses on creditor-placed homeowners insurance, has the opportunity to generate solid earnings during the economic downturn, according to Fitch.

Ratings also consider the adverse impact of the macro environment, particularly consumer spending and unemployment, on select businesses along with uncertainty regarding potential goodwill impairments, the agency said.

Ratings also reflect sound asset quality and relatively modest equity-adjusted financial leverage, the agency noted.

© 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.