Moody's ups Loews

Moody's Investors Service said it upgraded Loews Corp.'s senior unsecured ratings to A2 from A3.

The outlook is stable.

This rating action follows the upgrade of the senior unsecured ratings of Diamond Offshore Drilling, Inc. to A3 from Baa1 and CNA Financial Corp. to Baa2 from Baa3. Diamond and CNA are Loews' two largest operating subsidiaries by market capitalization.

"Loews upgrade to A2 reflects the strengthening credit profile of its primary operating subsidiaries and the parent company's stand-alone financial strength and conservative financial policies," commented Pete Speer, Moody's vice president, in a news release.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.