A.M. Best Assigns Rating to W.R. Berkley Corporation's Subordinated Debentures

OLDWICK, N.J.--(BUSINESS WIRE)--

A.M. Best has assigned an issue rating of "bbb+" to the recently announced $290 million 5.75% subordinated debentures due 2056 of W.R. Berkley Corporation (WRB) (Greenwich, CT) WRB. The outlook assigned to the rating is stable. The existing ratings of WRB and its subsidiaries are unchanged.

The offering is made pursuant to WRB's shelf registration on file with the U.S. Securities and Exchange Commission. Proceeds from the sale will be used for general corporate purposes. The addition of the debentures will modestly increase WRB's financial leverage and interest obligations, but leverage and coverage are expected to remain within A.M. Best's guidelines for its current ratings.

This press release relates to rating(s) that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best's Recent Rating Activity web page.

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