AM Best has assigned an indicative Long-Term Issue Credit Rating (Long-Term IR) of 'bbb-' (Good) to fixed-rate subordinated notes to be issued by Fidelis Insurance Holdings Limited. The outlook assigned to this Credit Rating is stable.
The assigned rating is consistent with the ranking of the notes, which are expected to mature in 2055. Fidelis was targeting an issuance size of up to $400 million for these notes.
This indicative rating is a positive step for Fidelis as it prepares to issue new debt. It provides an independent assessment of the notes' credit quality, which is important for potential investors and the company's capital structure.
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