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FOR IMMEDIATE RELEASE
OLDWICK - AUGUST 19, 2015 02:25 PM (EDT)
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.
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