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Fitch assigns Intact notes A-
Fitch Ratings said it assigned an A- rating to Intact Financial Corp.’s senior notes offering.
“The rating on the issuance is equivalent to Fitch's ratings on IFC's currently outstanding senior notes. No action was taken on IFC's other ratings,” the agency said in a press release.
IFC will use the proceeds to repay the outstanding principal of Intact U.S. Holdings, Inc.'s (formerly OneBeacon U.S. Holding, Inc.) 4.6% senior notes due 2022, and any remaining net proceeds may be used for debt repayment and general corporate purposes.
The outlook is stable.
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