AM Best Assigns Issue Credit Rating to The Travelers Companies, Inc.’s Recently Announced Senior Unsecured Notes

OLDWICK, N.J.--()--AM Best has assigned a Long-Term Issue Credit Rating of “a+” to the new $500 million 2.55% 30-year senior unsecured notes due April 27, 2050 recently announced by The Travelers Companies, Inc. (Travelers) (New York, NY) [NYSE: TRV]. The outlook assigned to this Credit Rating (rating) is stable. The existing ratings of Travelers and its subsidiaries are unchanged.

The proceeds from the sale of the notes will be used to fund the maturity of Travelers’ existing $500 million 3.9% senior unsecured notes due Nov. 1, 2020. Travelers’ financial leverage will be unchanged following completion of the refinancing transactions discussed above and is expected to remain well within AM Best’s guidelines to support this rating. AM Best anticipates that Travelers’ coverage ratios will remain strong and well supportive of the current rating.

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’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.

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 New York, London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.

Copyright © 2020 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.

Contacts

Elizabeth Blamble
Senior Financial Analyst
+1 908 439 2200, ext. 5603
elizabeth.blamble@ambest.com

Jennifer Marshall
Director
+1 908 439 2200, ext. 5327
jennifer.marshall@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com

Contacts

Elizabeth Blamble
Senior Financial Analyst
+1 908 439 2200, ext. 5603
elizabeth.blamble@ambest.com

Jennifer Marshall
Director
+1 908 439 2200, ext. 5327
jennifer.marshall@ambest.com

Christopher Sharkey
Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com

Jim Peavy
Director, Public Relations
+1 908 439 2200, ext. 5644
james.peavy@ambest.com