Moody's rates Hartford's notes A2

Moody's Investors Service said it assigned an A2 senior unsecured debt rating to the proposed offering of senior notes due 2019 to be issued by Hartford Financial Services Group, Inc.

The offering is a drawdown under the company's shelf registration.

The outlook is stable.

Proceeds will be used for general corporate purposes including pre-funding upcoming scheduled maturities of debt.

According to Moody's, ratings are based on the good operating performance at both the life and property and casualty insurance operations, its multiple sources of earnings and diversified distribution channels.

Strengths include the group's significant market presence in its chosen businesses, conservative underwriting standards and a high-quality investment portfolio, the agency said.

These factors are tempered by ongoing concerns about Hartford's significant exposure to natural catastrophes in the property and casualty operations and manmade catastrophes, Moody's noted.

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