Research Update: Hartford Financial Services Group Inc. And Subsidiaries Ratings Lowered And Kept On CreditWatch Negative - 2009/02/26 - S&P Credit Research

Report title: Research Update: Hartford Financial Services Group Inc. And Subsidiaries Ratings Lowered And Kept On CreditWatch Negative

from S&P Credit Research
1476 word report published Feb 26, 2009

Price $175.00 available for immediate download

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Abstract:

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 HIG's life (Hartford Life) and property/casualty (Hartford Fire) operating subsidiaries to 'A+' from 'AA-'. All of our ratings on HIG and its operating subsidiaries (collectively referred to as Hartford) remain on CreditWatch with negative implications. The downgrade and CreditWatch status reflect our opinion that Hartford's earnings, capitalization, and financial flexibility have been weakened considerably by the deepening equity market decline and the continuing volatility in addition to significant asset impairments in the past two quarters. Standard&Poor's believes the uncertainty of this

Brief Excerpt:

RESEARCH Ratings Definitions Research Update: Hartford Financial Services Group Inc. And Subsidiaries Ratings Lowered And Kept On CreditWatch Negative Publication date: 26-Feb-2009 Primary Credit Analyst: Shellie Stoddard, New York...

Report Type:

Research Update

Ticker:

HIG

Issuer:

Hartford Financial Services Group Inc.

GICS:

Multi-line Insurance (40301030)

Sector:

Commercial MBS, Corporations, Financial Institutions, Global Issuers, Insurance, Public Finance, Real Estate Companies, Structured Finance

Country:

United States

Region:

United States

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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 ...
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 ...
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. ...

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