A.M. Best Assigns Issue Credit Rating to The Hartford Financial Services Group, Inc.’s Junior Subordinated
Debentures Offering
A.M. Best has assigned a Long-Term Issue Credit Rating of “bbb” to the recently issued USD $500 million floating rate
junior subordinated debentures due 2067 of The Hartford Financial Services Group, Inc. (The Hartford) (headquartered in
Hartford, CT) [NYSE:HIG]. The outlook assigned to the Credit Rating is stable.
Proceeds from the offering will be utilized to retire existing junior subordinated notes of $500 million with a coupon rate of
8.125% on its June 2018 call date. Holders of the new junior subordinated notes will receive floating rate interest of 3-month
Libor plus 212.5 basis points. The notes will mature on Feb. 12, 2067. Following issuance of the new notes, The Hartford’s
financial leverage and coverage metrics will remain within guidelines for the company’s Long-Term Issuer Credit Ratings.
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.
A.M. Best
Jonathan Harris, CFA, FR, +1 908-439-2200, ext. 5771
Senior Financial Analyst
jonathan.harris@ambest.com
or
Christopher Sharkey, +1 908-439-2200, ext. 5159
Manager, Public Relations
christopher.sharkey@ambest.com
or
Jennifer Marshall, CPCU, ARM, +1 908-439-2200, ext. 5327
Director
jennifer.marshall@ambest.com
or
Jim Peavy, +1 908-439-2200, ext. 5644
Director, Public Relations
james.peavy@ambest.com
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