NEW YORK (Standard&Poor's) Nov. 21, 2005--Standard&Poor's Ratings Services said today that it assigned its 'BBB+' senior debt rating to St. Paul Travelers Cos.'s (NYSE:STA; BBB+/Positive/A-2) $400 million senior unsecured note issue maturing in 2015. The company intends to use the net proceeds from this issue to repay a portion of its existing debt. "This rating is based on the St. Paul Travelers group's very strong market position, improved operating performance, strong capitalization, and strong financial flexibility," explained Standard&Poor's credit analyst John Iten. "Partially offsetting these strengths is the group's legacy of substantial reserve charges, the possibility of further such actions, residual impact on business volume from the integration of St. Paul Cos. Inc. and
