Research Update: Hartford Financial Services Group Inc.'s Junior Subordinated Notes Rated 'BBB+' - 2008/10/17 - S&P Credit Research

Report title: Research Update: Hartford Financial Services Group Inc.'s Junior Subordinated Notes Rated 'BBB+'

from S&P Credit Research
1141 word report published Oct 17, 2008

Price $175.00 available for immediate download

Report Overview

Search Inside

About S&P Credit Research

Abstract:

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. 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. 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 announced Allianz SE agreed to make on Oct. 6, 2008. The balance of the

Brief Excerpt:

RESEARCH Ratings Definitions Research Update: Hartford Financial Services Group Inc.'s Junior Subordinated Notes Rated '###+' Publication date: 17-Oct-2008 Primary Credit Analyst: Robert A Hafner, FSA, New York (1) 212-438-7216; robert_hafner@standardan...

Report Type:

Research Update

Ticker:

HIG

Issuer:

Hartford Financial Services Group Inc.

GICS:

Multi-line Insurance (40301030)

Sector:

Asset-Backed Securities, Financial Institutions, Global Issuers, Insurance, Structured Finance

Country:

United States

Region:

United States

Free Sample:

Click Here to Download

Format:

HTML

Enter the keyword(s) which you would like to search for within this document and click "Search"

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 ...
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 ...

Price: $175.00

Free Sample

Questions about
this research?

Send page to a friend

Return to
Deal Snapshot

Can't Decide?

Purchasing premium research sight unseen can be intimidating. At Alacra we want you to know what you are getting. Visit our FAQ or ask our Customer Service Team any questions about the report you are considering purchasing.