A.M. Best Assigns Issue Rating to New Senior Unsecured Notes of The Travelers Companies, Inc.
August 19 2015 - 2:39PM
Business Wire
A.M. Best has assigned an issue rating of “a+” to the
$400 million 4.3% senior unsecured notes, due 2045, recently issued
by The Travelers Companies, Inc. (TRV) (New York, NY)
[NYSE:TRV]. The outlook assigned is stable.
The proceeds from the sale of the notes will be used to pay off
the existing $400 million 5.5% senior unsecured notes, due Dec. 1,
2015. The debt offering is pursuant to a shelf registration
statement filed with the Securities and Exchange Commission. While
Travelers’ financial leverage will modestly increase in the near
term, it will remain within A.M. Best’s guidelines to support its
current ratings. A.M. Best anticipates Travelers’ coverage ratios
to remain strong and well supportive of the current rating.
This press release relates to rating(s) 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 visit A.M.
Best’s Ratings & Criteria Center.
A.M. Best Company is the world's oldest and most
authoritative insurance rating and information source. For more
information, visit www.ambest.com.
Copyright © 2015 by A.M. Best Company,
Inc. ALL RIGHTS RESERVED.
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version on businesswire.com: http://www.businesswire.com/news/home/20150819006104/en/
A.M. Best CompanyMichael RussoSenior Financial
Analyst(908) 439-2200, ext.
5372michael.russo@ambest.comorMichael Lagomarsino,
CFA, FRMVice President(908) 439-2200, ext.
5810michael.lagomarsino@ambest.comorChristopher
SharkeyManager, Public Relations(908) 439-2200, ext.
5159christopher.sharkey@ambest.comorJim
PeavyAssistant Vice President, Public Relations(908)
439-2200, ext. 5644james.peavy@ambest.com
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