New York, August 15, 2016 -- Moody's Investors Service has assigned a Baa1 rating to $300 million of senior notes due 2026 being issued by American Financial Group (NYSE: AFG, senior debt Baa1). AFG expects to use net proceeds of the offering to fund a portion of the $320 million purchase price of all the shares of National Interstate Corporation (National Interstate) that it does not already own. The National Interstate acquisition is expected to close in the fourth quarter of 2016, subject to the receipt of regulatory and shareholder approvals. The outlook for AFG's ratings is stable.

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