A.M. Best Co. has affirmed the financial strength rating of A (Excellent) of The St. Paul Companies, Inc.'s (St. Paul, MN) (NYSE: SPC) property/casualty subsidiaries. Concurrently, A.M. Best has downgraded its senior debt rating to "bbb+" from "a-", subordinated debt to "bbb" from "bbb+", preferred securities to "bbb-" from "bbb+" and commercial paper to AMB-2 from AMB-1. All ratings have been assigned stable outlooks.
The ratings reflect St. Paul's strong capitalization, favorable and strengthening operating performance in its continuing lines of business and leading position as a genera...
Comments