AM Best Assigns Indicative Issue Credit Rating to Fidelis Insurance Holdings Limited Subordinated Notes

OLDWICK, N.J.--(BUSINESS WIRE)--
AM Best has assigned an indicative Long-Term Issue Credit Rating (Long-Term IR) of “bbb-” (Good) to fixed rate subordinated notes to be issued by Fidelis Insurance Holdings Limited (Fidelis) (Bermuda). The outlook assigned to this Credit Rating (rating) is stable.

The assigned rating for securities that may be issued under the shelf registration statement is consistent with the ranking of the notes, which mature in 2055. Fidelis is targeting an issuance size of up to $400 million. Fidelis’ adjusted financial leverage might temporarily increase following the issuance but it is expected to return to its long-term guidance. Interest coverage ratio is within AM Best’s guidelines. Some of the proceeds of the offering will be used to repay outstanding preference shares, while the remainder will be used for general corporate use.

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 © 2025 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/20250609935321/en/

Antonieta Iachetta
Associate Director

+1 908 882 1901

[email protected]

Guilherme Monteiro Simoes, CFA

Senior Financial Analyst

+1 908 882 2317

[email protected]

Christopher Sharkey
Associate Director, Public Relations

+1 908 882 2310

[email protected]

Al Slavin
Senior Public Relations Specialist

+1 908 882 2318

[email protected]

Source: AM Best