A.M. Best Assigns Issue Credit Rating to The Travelers Companies, Inc.’s Senior Unsecured Notes
May 16 2017 - 10:12AM
Business Wire
A.M. Best has assigned a Long-Term Issue Credit Rating of
“a+” to the $700 million 4.00% senior unsecured notes, due May 30,
2047, recently issued by The Travelers Companies, Inc.
(Travelers) (headquartered in New York, NY)(NYSE:TRV). The outlook
assigned to the Credit Rating (rating) is stable.
The proceeds from the sale of the notes will be used to retire
Travelers’ existing $450 million of 5.75% senior unsecured notes,
due Dec. 15, 2017, as well as to help fund a portion of the
previously announced acquisition of Simply Business, a digital
provider of insurance policies to small businesses in the United
Kingdom. While Travelers’ financial leverage will modestly increase
in the near term, it will remain well within A.M. Best’s guidelines
to support this rating. A.M. Best anticipates Travelers’ coverage
ratios to remain strong and well supportive of the current
rating.
This press release relates to Credit Ratings that have been
published on A.M. Best’s website. For all rating information
relating to the release and pertinent disclosures, including
details of the office responsible for issuing each of the
individual ratings referenced in this release, please see A.M.
Best’s Recent Rating Activity web page. For
additional information regarding the use and limitations of Credit
Rating opinions, please view Understanding Best’s Credit
Ratings.
A.M. Best is the world’s oldest and most authoritative
insurance rating and information source. For more information,
visit www.ambest.com.
Copyright © 2017 by A.M. Best Rating
Services, Inc. and/or its subsidiaries. ALL RIGHTS
RESERVED.
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version on businesswire.com: http://www.businesswire.com/news/home/20170516006136/en/
A.M. BestGreg Dickerson, +1-908-439-2200, ext.
5161Senior Financial
Analystgregory.dickerson@ambest.comorJennifer Marshall,
CPCU, ARM, +1-908-439-2200, ext.
5327Directorjennifer.marshall@ambest.comorChristopher
Sharkey, +1-908-439-2200, ext. 5159Manager, Public
Relationschristopher.sharkey@ambest.comorJim Peavy,
+1-908-439-2200, ext. 5644Director, Public
Relationsjames.peavy@ambest.com
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