AM Best Assigns Issue Credit Rating to American Financial Group, Inc.’s New Senior Unsecured Notes

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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, AFGs adjusted financial leverage ratio will increase modestly, while its interest coverage ratio will remain largely unchanged. AFGs adjusted and unadjusted financial leverage ratios and interest coverage measures all remain well within AM Bests guidelines for AFGs 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 Bests 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 Bests Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Bests Credit Ratings. For information on the proper media use of Bests Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Bests 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. For more information, visit www.ambest.com.

Copyright 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Elizabeth Blamble

Senior Financial Analyst

+1 908 439 2200, ext. 5603

[email protected]

Gregory Dickerson

Associate Director

+1 908 439 2200, ext. 5161

[email protected]

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

[email protected]

Jim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

[email protected]