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Article: A.M. Best Assigns Debt Rating to The Hanover Insurance Group, Inc.'s Junior Subordinated Notes.
- Article from:
- Business Wire
- Article date:
- August 14, 2009
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OLDWICK, N.J. -- A.M. Best Co. has assigned a debt rating of "bb+" to $165 million series B 8.207% junior subordinated deferrable interest debentures due February 3, 2027 issued in exchange for the AFC Capital Trust I same debentures, which were outstanding as of July 30, 2009 of The Hanover Insurance Group, Inc. (THG) (Worcester, MA) (NYSE: THG). The outlook for the rating is stable.
Concurrently, A.M. Best has withdrawn the debt rating of "bb+" on AFC Capital Trust I's $309 million aggregate principal amount of series B junior subordinated deferrable interest debentures due February 3, 2027 of THG.
On July 30, 2009, THG terminated AFC Capital Trust I ...