Moody's assigns Hartford Financial debentures A3

Moody's Investors Service said it assigned an A3 subordinated unsecured debt rating to the proposed offering of junior subordinated debentures due 2068 to be issued by Hartford Financial Services Group, Inc.

The offering constitutes a drawdown under the company's existing shelf registration, the agency said, adding that the funds will be used for share repurchases or general corporate purposes.

The outlook is stable.

The rating agency said Hartford's debt 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.

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