Amlin debt issue rated stable
Moody's Investors Service has assigned a Baa3, stable outlook, subordinated debt rating to Amlin's $50m (£27m) subordinated bonds due 2019. The net proceeds of the issue of the bonds will be used by Amlin to partially refinance existing letters of credit which constitute short term capital.
Moody's said that the Baa3 holding company subordinated debt rating, relative to the A1 insurance financial strength rating (IFSR) of Lloyd'ssyndicate 2001, which is managed and capitalised by AmlinOnly users who have a paid subscription or are part of a corporate subscription are able to print or copy content.
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