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Fundado el 20 de mayo de 2013

AM Best Assigns Issue Credit Ratings to USAA Capital Corporation’s Senior Unsecured Medium Term Notes

OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has assigned Long-Term Issue Credit Ratings (Long-Term IR) of “aaa” to the $400 million 1.5% senior unsecured sustainability bonds due May 1, 2023, and the $400 million 2.125% senior unsecured sustainability bonds due May 1, 2030, issued by USAA Capital Corporation (San Antonio, TX). The outlook assigned to these Credit Ratings (ratings) is stable.

USAA Capital Corporation intends to use the net proceeds from the sale of the senior unsecured notes to finance or refinance projects of United Services Automobile Association (USAA) or any of its subsidiaries that have environmental and/or social benefits and meet certain eligibility criteria. The $400 million 3.0% senior unsecured notes due July 1, 2020, and $400 million 2.45% senior unsecured notes due Aug. 1, 2020, are expected to mature as scheduled. Following these debt maturities, AM Best notes that USAA Capital Corporation’s financial leverage will remain largely unchanged at approximately 7%, as the recent debt issuance will be offset by the upcoming debt maturities. USAA Capital Corporation’s financial leverage and interest coverage ratios remain within AM Best’s guidelines for these ratings and are expected to remain so in the near term.

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 media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media – Proper Use of Best’s 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.

Contacts

Robert Valenta, CPCU

Senior Financial Analyst

+1 908 439 2200, ext. 5291
robert.valenta@ambest.com

Raymond Thomson, CPCU, ARe, ARM
Director
+1 908 439 2200, ext. 5621
raymond.thomson@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com