Best Rates Hartford Sr Notes 'A-'

A.M. Best Co. has assigned a senior debt rating of "a-" to Hartford Financial Services Group, Inc.'s (The Hartford) (Hartford, CT) (NYSE: HIG - News) issuance of $320 million of unsecured senior notes due 2013. The notes are being issued under Rule 144A. Proceeds will be used to fully repay the $320 million remaining under the company's 7.7% junior subordinated debentures due 2016, which are associated with the preferred securities issued by Hartford Capital I. A.M. Best has cited in previous press releases Hartford's low level of holding company liquidity and cash flow, which was the major ...