Moody's rates Selective Insurance debt Baa3

Moody's Investors Service said it assigned a Baa3 rating to the $100 million of junior subordinated debt expected to be issued by Selective Insurance Group.

The outlook is positive.

The proceeds from the offering are expected to be used for general corporate purposes.

The positive outlook reflects the company's gradual increase in geographic diversification and its strong earnings as a result of underwriting discipline and favorable property and casualty market conditions, the agency said.

© 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.