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MarketScreener Homepage  >  Equities  >  Nyse  >  Assurant, Inc.    AIZ

ASSURANT, INC.

(AIZ)
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Assurant : AM Best Assigns Issue Credit Rating to Assurant Inc.'s Subordinated Notes

11/19/2020 | 04:50am EST

AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of 'bbb' to the recently issued $250 million, 5.25% subordinated notes, due 2061, of Assurant, Inc. (Assurant) (headquartered in New York, NY) [NYSE: AIZ].

The outlook assigned to the Credit Rating (rating) is stable.

Following the debt issuance, financial leverage will remain within guidelines for the assigned rating. Assurant intends to use the net proceeds from the debt offering, along with available cash on the balance sheet, to fund the company's previously announced acquisition of HYLA Mobile. Any remaining proceeds will be used for general corporate purposes.

Assurant's Long-Term Issuer Credit Rating of 'bbb+', its existing Long-Term IRs and the ratings of its operating insurance subsidiaries are unchanged.

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 8 838 M - -
Net income 2020 422 M - -
Net Debt 2020 2 262 M - -
P/E ratio 2020 20,3x
Yield 2020 1,91%
Capitalization 7 816 M 7 816 M -
EV / Sales 2020 1,14x
EV / Sales 2021 1,08x
Nbr of Employees 13 900
Free-Float 36,0%
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Technical analysis trends ASSURANT, INC.
Short TermMid-TermLong Term
TrendsNeutralBullishNeutral
Income Statement Evolution
Consensus
Sell
Buy
Mean consensus BUY
Number of Analysts 4
Average target price 163,50 $
Last Close Price 134,90 $
Spread / Highest target 27,5%
Spread / Average Target 21,2%
Spread / Lowest Target 11,2%
EPS Revisions
Managers and Directors
NameTitle
Alan B. Colberg President, Chief Executive Officer & Director
Elaine D. Rosen Non-Executive Chairman
Gene E. Mergelmeyer Chief Operating Officer & Executive Vice President
Richard Steven Dziadzio Chief Financial Officer, Treasurer & EVP
Joseph A. Surber Chief Technology Officer & Senior Vice President
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