Fitch rates RenaissanceRe notes A-

Fitch Ratings said it assigned an A- rating to the $400 million 3.6% senior notes due 2029 issued by RenaissanceRe Holdings Ltd.

The new issuance ranks equally with the company’s subsidiaries' currently outstanding senior notes, which are fully and unconditionally guaranteed by RenaissanceRe on a senior unsecured basis, and are thus rated equivalent, the agency said.

The company intends to use the net proceeds from the offering for general corporate purposes and to repay $200 million of revolving credit facility debt that was used to partially fund the purchase price of Tokio Marine Holdings, Inc.'s reinsurance platform.

© 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.