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MarketScreener Homepage  >  Equities  >  Nyse  >  American Financial Group, Inc.    AFG

AMERICAN FINANCIAL GROUP, INC.

(AFG)
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American Financial : AM Best Assigns Issue Credit Rating to American Financial Group, Inc.'s New Senior Unsecured Notes

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03/30/2020 | 08:38am EDT

AM Best has assigned a Long-Term Issue Credit Rating of 'a-' to the new $300 million 5.25% 10-year senior unsecured notes due April 2030 recently issued by American Financial Group, Inc. (AFG) (Cincinnati, OH) [NYSE: AFG].

The outlook assigned to this Credit Rating (rating) is stable. The existing ratings of AFG and its subsidiaries are unchanged.

AFG intends to use the net proceeds of the offering for general corporate purposes. Following the completion of the transaction discussed above, AFG's adjusted financial leverage ratio will increase modestly, while its interest coverage ratio will remain largely unchanged. AFG's adjusted and unadjusted financial leverage ratios and interest coverage measures all remain well within AM Best's guidelines for AFG's current ratings and are expected to remain so over the near term.

This press release relates to Credit Ratings that have been published on AM 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 AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper media use of Best's Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best's Credit Ratings and AM Best Rating Action Press Releases.

AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.

(C) 2020 Electronic News Publishing, source ENP Newswire

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Financials (USD)
Sales 2020 4 892 M
EBIT 2020 -
Net income 2020 139 M
Debt 2020 -
Yield 2020 8,03%
P/E ratio 2020 39,1x
P/E ratio 2021 7,13x
Capi. / Sales2020 1,10x
Capi. / Sales2021 0,95x
Capitalization 5 373 M
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Mean consensus OUTPERFORM
Number of Analysts 4
Average target price 74,67 $
Last Close Price 59,81 $
Spread / Highest target 55,5%
Spread / Average Target 24,8%
Spread / Lowest Target -4,70%
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Managers
NameTitle
Stephen Craig Lindner Co-President, Co-CEO & Director
Carl Henry Lindner Co-President, Co-CEO & Director
Joseph Evans Consolino Chief Financial Officer, Director & Executive VP
Terry S. Jacobs Independent Director
William Wymond Verity Independent Director
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