AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc.’s New Senior Unsecured Notes
June 04 2021 - 12:17PM
Business Wire
AM Best has assigned a Long-Term Issue Credit Rating of
“a+” (Excellent) to the new $750 million, 3.05% 30-year senior
unsecured notes due June 8, 2051, recently issued by The Travelers
Companies, Inc. (Travelers) (headquartered in New York, NY) [NYSE:
TRV]. The outlook assigned to this Credit Rating (rating) is
stable. All other ratings of Travelers and its subsidiaries are
unchanged.
The proceeds from the sale of the notes will be used for general
corporate purposes. While Travelers’ financial leverage will
increase modestly, it will remain within AM Best’s guidelines to
support its current ratings. AM Best views Travelers’
debt-servicing capabilities favorably, with sufficient liquidity to
service its debt, a well-laddered debt maturity structure and
strong interest coverage.
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 pertinent disclosures, including details of the
office responsible for issuing each of the individual ratings
referenced in this release, please see AM Best’s Recent Rating
Activity web page. For additional information regarding the use and
limitations of Credit Rating opinions, please view Guide to Best’s
Credit Ratings. For information on the proper media use of Best’s
Credit Ratings and AM Best press releases, please view Guide for
Media - Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases.
AM Best is a global credit rating agency, news publisher and
data analytics provider specializing in the insurance industry.
Headquartered in the United States, the company does business in
over 100 countries with regional offices in London, Amsterdam,
Dubai, Hong Kong, Singapore and Mexico City. For more information,
visit www.ambest.com.
Copyright © 2021 by A.M. Best Rating
Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
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Elizabeth Blamble Senior Financial Analyst +1
908 439 2200, ext. 5603 elizabeth.blamble@ambest.com Michael
Lagomarsino, CFA, FRM Senior Director +1 908 439
2200, ext. 5810 michael.lagomarsino@ambest.com Christopher
Sharkey Manager, Public Relations +1 908 439 2200,
ext. 5159 christopher.sharkey@ambest.com Jim Peavy
Director, Public Relations +1 908 439 2200, ext. 5644
james.peavy@ambest.com
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