AM Best Assigns Issue Credit Rating to The Hanover Insurance Group, Inc.’s Senior Unsecured Notes

Rhea-AI Impact

(Low)

Rhea-AI Sentiment

(Neutral)

Tags

08/28/2025 - 02:14 PM

OLDWICK, N.J.--(BUSINESS WIRE)-- AM Best has assigned a Long-Term Issue Credit Rating of “bbb+” (Good) to the recently issued USD 500 million, 5.5% senior unsecured notes due 2035, issued by The Hanover Insurance Group, Inc. (The Hanover) (headquartered in Worcester, MA) [NYSE: THG]. The outlook assigned to this Credit Rating (rating) is stable.

The ratings of The Hanover and its subsidiaries were previously affirmed on July 31, 2025 (see related press release).

The Long-Term Issuer Credit Rating of The Hanover, as well as the ratings of its operating subsidiaries and all other debt issuance, remain unchanged with this issuance. The Hanover plans to use the net proceeds of the offering to repay its upcoming outstanding debt maturities, as well as for general corporate purposes. Financial leverage and coverage measures are within AM Best’s guidelines for this rating and are expected to remain so following the new debt issuance.

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 use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.

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 London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.