OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned indicative Long-Term Issue Credit Ratings of “bbb+” (Good) to subordinated issues, “bbb” (Good) to preferred stock issues and “a-” (Excellent) to senior unsecured issues on the recently filed shelf registrations of Assurant, Inc. (Assurant) (headquartered in Atlanta, GA). The outlook assigned to these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn the ratings of the previous shelf registration, which has expired.
AM Best notes that Assurant manages its financial leverage to a modest level and continues to maintain good interest coverage. AM Best expects the run rate interest coverage to be in the five to seven times range. The company’s cash flow, capitalization and operating results continue to be strong, with well-diversified revenue and earning streams.
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