OREANDA-NEWS. A.M. Best has assigned an issue rating of “a” to the recently announced $500 million 2.45% senior unsecured notes, due 2027 of The Progressive Corporation (Progressive) (Mayfield Village, OH) (NYSE: PGR). The outlook assigned to the rating is stable. Progressive’s issuer credit rating of “a”, its existing issue ratings and the ratings of its operating insurance subsidiaries are unchanged.