A.M. Best Co. has assigned an 'a+' rating to the proposed $850 million convertible junior subordinated notes, due 2032, to be issued by Travelers Property Casualty Corp., Hartford, Conn.
Concurrently, A.M. Best has affirmed Travelers' 'aa- ' senior debt rating and the 'a+' rating for its trust preferred securities and has assigned an AMB-1+ commercial paper rating. The A++ (Superior) financial strength rating for Travelers Property Casualty Pool and the various other financial strength ratings of property/casualty units owned by Travelers are unaffected.
These rating actions are in conj...
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