Back to top

Analyst Blog

Assurant Inc.’s (AIZ - Analyst Report) recently announced $750 million unsecured senior subordinated notes have been conferred a debt rating of “bbb” by A.M. Best Co.
These notes will be issued in three parts – $250 million 2.96% senior unsecured notes due March 2018, the $250 million 4.26% senior unsecured notes due March 2023 and the $250 million 5.83% senior unsecured notes due March 2043
Assurant has also announced the pricing of a public offering of $350 million in aggregate principal amount of its 2.50% senior notes due 2018 and $350 million in aggregate principal amount of 4.00% senior notes due 2023.
The funds gathered from the notes issue will be used primarily for general corporate purposes which includes redemption of $500 million of 5.63% senior notes due February 2014. 
The issue will be managed by BofA Merrill Lynch a unit of Bank of America Corp. (BAC - Analyst Report) and J.P. Morgan Securities LLC of JPMorgan Chase & Co. (JPM - Analyst Report) who will be acting as joint book-running managers. 
All the ratings carry a stable outlook. A stable outlook reflects that Assurant, is experiencing stable financial and market trends, and that therefore a rating change in the near term is unlikely.
The financial position of Assurant remains strong with $4.4 billion of equity capital as of Dec 31, 2012, which remained unchanged on a sequential basis. The company maintains a low leverage ratio of 18.3%, almost unchanged from 18.4% as of Dec 31, 2011.
Assurant currently carries a Zacks Rank #2 (Buy). Other insurers such as Assured Guaranty Ltd. (AGO - Snapshot Report) with a Zacks Rank #2 (Buy) is worth considering. 

Please login to or register to post a comment.

New to Zacks?

Start Here

Zacks Investment Research


Are you a new Zacks Member or a visitor to

Top Zacks Features

My Portfolio Tracker

Is it Time to Sell?

One of the most important steps you can take today is to set up your portfolio tracker on Once you do, you'll be notified of major events affecting your stocks and/or funds with daily email alerts.

More Zacks Resources

Zacks Rank Home - Evaluate your stocks and use the Zacks Rank to eliminate the losers and keep the winners.

Mutual Fund Rank Home - Evaluate your funds with the Mutual Fund Rank for both your personal and retirement funds.

Stock/Mutual Fund Screening - Find better stocks and mutual funds. The ones most likely to beat the market and provide a positive return.

My Portfolio - Track your Portfolio and find out where your stocks/mutual funds stack up with the Zacks Rank.

Zacks #1 Rank Top Movers for Zacks #1 Rank Top Movers

Company Symbol Price %Chg
UTD THERAPE… UTHR 117.83 +28.51%
TRIQUINT SE… TQNT 20.67 +6.52%
RF MICRO DE… RFMD 12.47 +6.04%
VASCO DATA… VDSI 14.77 +4.68%
BANCO DO BR… BDORY 15.53 +3.95%