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S&P Credit Research517 word report
published Oct 17, 2008
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S&P Credit Research
| Abstract: | 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 rate junior subordinated debentures. "Because the notes permit the deferral of interest for at least ten years without giving rise to an event of default, and because they have a subordinated status in the capital structure, we classify these notes as having intermediate equity content," said Standard&Poor's credit analyst Robert Hafner. As such, they are eligible for full equity credit until they are within 20 years of scheduled maturity and no equity credit thereafter. These notes are a portion of the total investment that HIG
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| Brief Excerpt: | RESEARCH Ratings Definitions Hartford Financial Services Group Inc.'s Junior Subordinated Notes Assigned '###+' Rating Publication date: 17-Oct-2008 Primary Credit Analyst: Robert A Hafner, FSA, New York (1) 212-438-7216; robert_hafner@standardandpoors....
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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: | Asset-Backed Securities, Financial Institutions, Global Issuers, Insurance, Structured Finance
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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
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- 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 ...
- Hartford Financial Services Group Inc. Ratings Lowered To 'A-' From 'A' And Put On CreditWatch Negative $100.00
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 ...
- 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 ...
- 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. ...
