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S&P Credit Research539 word report
published Feb 09, 2009
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S&P Credit Research
| Abstract: | NEW YORK (Standard&Poor's) Feb. 9, 2009--Standard&Poor's Ratings Services said today that it lowered its counterparty credit rating on Hartford Financial Services Group Inc. (NYSE:HIG) to 'A-' from 'A'. Standard&Poor's also said that we placed our ratings on HIG and its operating subsidiaries (collectively referred to as Hartford) on CreditWatch with negative implications. These rating actions reflect deteriorating business and macroeconomic conditions, which are increasing strain on the group by eroding earnings and pressuring capitalization. "Because of the sharply lower equity markets, Hartford's earnings from equity-linked products have decreased, and actual and potential reserve and capital requirements have increased," noted Standard&Poor's credit analyst Robert A. Hafner. "Compounding these pressures are concerns that investment
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| Brief Excerpt: | RESEARCH Ratings Definitions Hartford Financial Services Group Inc. Ratings Lowered To 'A-' From 'A' And Put On CreditWatch Negative Publication date: 09-Feb-2009 Primary Credit Analysts: Robert A Hafner, FSA, New York (1) 212-438-7216;...
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| Report Type: | Ratings Action
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| Ticker: | HIG
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| Issuer: | Hartford Financial Services Group Inc.
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| GICS: | Multi-line Insurance (40301030)
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| Sector: | Global Issuers, Insurance
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| Country: | United States
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| Region: | United States
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| Free Sample: |
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S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.
Also from S&P Credit Research
- Outlook On Hartford Financial Services Group Inc. Revised To Stable From Negative $100.00
-- Hartford Financial Services Group Inc. will issue $3.4 billion in senior preferred stock as part of the U.S. Treasury Department's Capital Purchase Program. -- Hartford is also issuing $750 million in common equity. -- As a result, we have ...
- Research Update: Hartford Financial Services Group Inc. Outlook Revised To Stable From Negative $175.00
Hartford Financial Services Group Inc. will issue $3.4 billion in senior preferred stock as part of the U.S. Treasury Department's Capital Purchase Program. Hartford is also issuing $750 million in common equity. As a result, we have revised ...
- Hartford Financial Services Group Inc. And Subsidiaries Downgraded One Notch; Outlook Negative $100.00
NEW YORK (Standard&Poor's) March 3, 2009--Standard&Poor's Ratings Services said today that it lowered its counterparty credit rating on Hartford Financial Services Group Inc. (NYSE:HIG) to 'BBB' from 'BBB+' and its counterparty credit and financial ...
- Research Update: Hartford Financial Services Group Inc. And Subsidiaries Ratings Lowered One Notch; Outlook Negative $175.00
On March 3, 2009, Standard&Poor's Ratings Services lowered its counterparty credit rating on Hartford Financial Services Group Inc. (NYSE:HIG) to 'BBB' from 'BBB+' and its counterparty credit and financial strength ratings on all of HIG's life ...
- Research Update: Hartford Financial Services Group Inc. And Subsidiaries Ratings Lowered And Kept On CreditWatch Negative $175.00
On Feb. 26, 2009, Standard&Poor's Ratings Services lowered its counterparty credit rating on Hartford Financial Services Group Inc. (NYSE:HIG) to 'BBB+' from 'A-' and lowered its counterparty credit and financial strength ratings on all of ...
- Research Update: Hartford Financial Services Group Inc. Ratings Lowered To 'A-' From 'A' And Placed On CreditWatch Negative $175.00
On Feb. 9, 2009, Standard&Poor's Ratings Services lowered its counterparty credit rating on Hartford Financial Services Group Inc. (NYSE:HIG) to 'A-' from 'A'. At the same time, we placed our ratings on HIG and its operating subsidiaries (collectively ...
- Hartford Financial Services Group Inc.'s Junior Subordinated Notes Assigned 'BBB+' Rating $100.00
NEW YORK (Standard&Poor's) Oct. 17, 2008--Standard&Poor's Ratings Services today said it assigned its 'BBB+' preferred stock-level rating on Hartford Financial Services Group Inc.'s (NYSE:HIG; A/Negative/A-1) $1.75 billion 10% fixed-to-floating ...
- Research Update: Hartford Financial Services Group Inc.'s Junior Subordinated Notes Rated 'BBB+' $175.00
On Oct. 17, 2008, Standard&Poor's Ratings Services assigned its 'BBB+' preferred stock-level rating on Hartford Financial Services Group Inc.'s (NYSE:HIG; A/Negative/A-1) $1.75 billion 10% fixed-to-floating rate junior subordinated debentures. ...
