Homesteading is an empowering way to live in a self-sufficient manner. The benefits include living closer to nature, developing new skills and lowering your expenses.
Homesteading is not for everyone, but for those who do it can be a rewarding and satisfying endeavor. It can bring your family closer together and allow you to live more simply and frugally.
OLDWICK, N.J., February 16, 2023–(BUSINESS WIRE)–AM Best has assigned a Long-Term Issue Credit Rating of “bbb-” (Good) to the $20 million, 7.75% surplus notes due Feb. 15, 2053, and the $20 million 7.75% surplus notes due Feb. 15, 2053, issued by Homesteaders Life Company (Homesteaders) (West Des Moines, IA). The outlook assigned to these Credit Ratings (ratings) is stable. Each note will be issued to a different external party.
The proceeds from the issuance of these surplus notes are expected to be used for general corporate purposes, which may include strategic business initiatives, acquisitions and internal investments. Homesteaders’ financial leverage and interest coverage ratios will remain within AM Best’s guidelines for its current ratings.
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.
Copyright © 2023 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20230216005574/en/
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Shauna Nelson
Senior Financial Analyst
+1 908 439 2200, ext. 5365
shauna.nelson@ambest.com
Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Jacqalene Lentz
Director
+1 908 439 2200, ext.5762
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Al Slavin
Senior Public Relations Specialist
+1 908 439 2200, ext. 5098
al.slavin@ambest.com
Source: finance.yahoo.com
