Your World of Legal Intelligence
 United Kingdom | +44 (0) 20 7284 8080

AM Best Assigns Issue Credit Rating to The Hartford Financial Services Group, Inc.'s New Senior Unsecured Notes.

Document Cited in Related
Vincent

ENPNewswire-September 17, 2021--AM Best Assigns Issue Credit Rating to The Hartford Financial Services Group, Inc.'s New Senior Unsecured Notes

(C)2021 ENPublishing - http://www.enpublishing.co.uk

Release date- 16092021 - AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of 'a-' (Excellent) to The Hartford Financial Services Group, Inc.'s (The Hartford) (headquartered in Hartford, CT) [NYSE: HIG] recently announced $600 million, 2.9% senior unsecured notes due September 2051.

The outlook assigned to this Credit Rating (rating) is stable.

The proceeds from the sale of the notes will be used to redeem the outstanding $600 million principal amount of the company's 7.875% fixed-to-floating rate junior subordinated debentures due 2042, which are redeemable at par on or after April 15, 2022. AM Best expects The Hartford's financial leverage to increase modestly immediately following the issuance, but it will remain well within guidelines to support its current ratings. Coverage ratios remain favorable for The Hartford's ratings, which were affirmed in late July 2021 (see related press release).

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...

To continue reading

Request your trial
COPYRIGHT Normans Media Ltd.

VLEX uses login cookies to provide you with a better browsing experience. If you click on 'Accept' or continue browsing this site we consider that you accept our cookie policy. ACCEPT