AM Best Assigns Indicative Issue Credit Ratings to The Hartford Financial Services Group, Inc.
OLDWICK, N.J.--(BUSINESS WIRE)--Sep 27, 2024--
AM Best has assigned indicative Long-Term Issue Credit Ratings of “a-” (Excellent) to senior unsecured issues, “bbb+” (Good) to senior subordinated issues and “bbb” (Good) to junior subordinated and preferred stock on the recently filed shelf registration of The Hartford Financial Services Group, Inc. (The Hartford) (Delaware) [NYSE: HIG]. The outlook assigned to these Credit Ratings (ratings) is positive.
Concurrently, AM Best has withdrawn the ratings on the previous shelf registration that expired. All other ratings of The Hartford and its insurance subsidiaries are unchanged.
The Hartford’s adjusted financial leverage and earnings before interest, preferred dividends and taxes coverage have been within AM Best’s expectations.
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’sRecent Rating Activityweb page. For additional information regarding the use and limitations of Credit Rating opinions, please viewGuide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please viewGuide to Proper Use of Best’s Ratings & Assessments.
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, visitwww.ambest.com.
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CONTACT: David Marek
Associate Director
+1 908 882 1924
david.marek@ambest.comMichael Lagomarsino, CFA, FRM
Senior Director
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michael.lagomarsino@ambest.comChristopher Sharkey
Associate Director, Public Relations
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christopher.sharkey@ambest.comAl Slavin
Senior Public Relations Specialist
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al.slavin@ambest.com
KEYWORD: NEW YORK NEW JERSEY EUROPE UNITED STATES NORTH AMERICA
INDUSTRY KEYWORD: PROFESSIONAL SERVICES INSURANCE FINANCE
SOURCE: AM Best
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