New York, November 09, 2015 -- Moody's Investors Service has assigned a Baa2 (hyb) rating to $150 million of subordinated debentures due 2055 being issued by American Financial Group (NYSE: AFG, senior debt Baa1,stable). The transaction is a drawdown from AFG's shelf registration (effective March 2, 2015), to which Moody's has assigned a provisional (P)Baa1 senior unsecured debt rating. Net proceeds from the subordinated debentures are expected to be used for general corporate purposes including share repurchases. The rating outlook for AFG is stable.

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