Fitch lowers Hartford

Fitch Ratings said it downgraded Hartford Financial Services Group, Inc.'s issuer default rating to BBB+ from A, senior debt to BBB from A- and commercial paper to F2 from F1.

The outlook is negative.

The actions reflect an updated review of the company's exposure to the currently volatile credit and investment market conditions, which are having a negative impact on its asset portfolio, as well as earnings and capital needs in its variable annuity business, according to the agency.

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