Debt (Tables)

6 Months Ended

Jun. 30, 2019

The following table shows the principal amount and carrying value of the Company’s outstanding debt, less unamortized

discount and issuance costs as applicable, as of June 30, 2019 and December 31, 2018:



			June 30, 2019		December 31, 2018
	Principal Amount		Carrying Value
Floating Rate Senior Notes due March 2021 (1)	$	300.0	$	298.4	$	298.1
4.00% Senior Notes due March 2023	350.0		348.3		348.1
4.20% Senior Notes due September 2023	300.0		297.1		296.8
4.90% Senior Notes due March 2028	300.0		297.7		297.6
6.75% Senior Notes due February 2034	375.0		371.0		370.9
7.00% Fixed-to-Floating Rate Subordinated Notes due March 2048 (2)	400.0		394.8		394.5
Total debt			$	2,007.3	$	2,006.0


(1)	Bears floating interest at a rate equal to three-month LIBOR plus 1.25%.

(2)

Bears a 7.00% annual interest rate from March 2018 to March 2028 and annual interest rate equal to three-month LIBOR plus 4.135% thereafter.

Schedule of Credit Rating Agencies interest rates

The following table details the increase in interest rate over the issuance rate by rating with the impact equal to the sum of the number of basis points next to such rating for a maximum increase of 200 basis points over the issuance rate:



	Rating Agencies
Rating Levels	Moody’s (1)	S&P (1)	Interest Rate Increase (2)
1	Ba1	BB+	25 basis points
2	Ba2	BB	50 basis points
3	Ba3	BB-	75 basis points
4	B1 or below	B+ or below	100 basis points


(1)	Including the equivalent ratings of any substitute rating agency.

(2)

Applies to each rating agency individually.