AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb” (Good) to the USD 750 million, 5.25% senior unsecured notes, due 2036, issued by Liberty Mutual Group Inc. (LMGI) (Boston, MA). The notes are guaranteed by Liberty Mutual Holding Company Inc. and LMHC Massachusetts Holdings, Inc. The outlook assigned to the Credit Rating (rating) is stable.

Inclusive of these issued senior unsecured notes, financial leverage is approximately 20% as calculated by AM Best, with strong interest coverage. AM Best expects these measures to remain within the tolerance of the assigned Long-Term IR. Proceeds from the offering are expected to be used for general corporate purposes,

LMGI’s Long-Term Issuer Credit Rating of “bbb” (Good) and existing Long-Term IRs, as well as 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 use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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