...NEW YORK (S&P Global Ratings) March 1, 2018----S&P Global Ratings said today that it has assigned its 'A' debt rating to U.S.-based intermediary holding company Chubb INA Holdings Inc.'s (Chubb INA) issuance of 900 million of 1.55% senior unsecured notes due 2028 and 900 million of 2.50% senior unsecured notes due 2038. The senior notes are each fully and unconditionally guaranteed by Switzerland-based ultimate parent Chubb Ltd. (Chubb). Chubb will use the net proceeds of this offering for general corporate purposes that may include prefunding upcoming debt maturities, including its $600 million of its 5.75% senior debt due May 15, 2018, $100 million of its 6.6% debentures due Aug. 15, 2018 and $500 million of its 5.9% senior debt due June 15, 2019. Chubb may also use the proceeds to call its aggregate $1.0 billion 6.375% subordinated capital securities due 2037. We expect Chubb to maintain financial leverage below 25% and EBITDA fixed-charge coverage above 8x in 2018 and 2019. RELATED...
