Fitch Plans to Withdraw Hartford Financial's Ratings

Mon Jul 28, 2014 11:51am EDT

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(The following statement was released by the rating agency) CHICAGO, July 28 (Fitch) Fitch Ratings plans to withdraw the ratings on Hartford Financial Services Group, Inc. and its subsidiaries on or about Aug. 28, 2014, for commercial reasons. Fitch currently rates Hartford Financial Services Group, Inc. and its subsidiaries as follows: Hartford Financial Services Group, Inc. --Long-term Issuer Default Rating (IDR) 'BBB+'; --4.0% senior notes due 2015 'BBB'; --7.3% notes due 2015 'BBB'; --5.5% notes due 2016 'BBB'; --5.375% notes due 2017 'BBB'; --4.0% senior notes due 2017 'BBB'; --6.3% notes due 2018 'BBB'; --6% notes due 2019 'BBB'; --5.5% senior notes due 2020 'BBB'; --5.125% senior notes due 2022 'BBB'; --5.95% notes due 2036 'BBB'; --6.625% senior notes due 2040 'BBB'; --6.1% notes due 2041 'BBB'; --6.625% senior notes due 2042 'BBB'; --4.3% senior notes due 2043 'BBB'; --7.875% junior subordinated debentures due 2042 'BB+'; --8.125% junior subordinated debentures due 2068 'BB+'. Hartford Financial Services Group, Inc. --Short-term IDR 'F2'; --Commercial paper 'F2'. Hartford Life, Inc. --Long-term IDR 'BBB'; --7.65% notes due 2027 'BBB-'; --7.375% notes due 2031 'BBB-'. Members of the Hartford Fire Insurance Intercompany Pool: Hartford Fire Insurance Company Nutmeg Insurance Company Hartford Accident & Indemnity Company Hartford Casualty Insurance Company Twin City Fire Insurance Company Pacific Insurance Company, Limited Property and Casualty Insurance Company of Hartford Sentinel Insurance Company, Ltd. Hartford Insurance Company of Illinois Hartford Insurance Company of the Midwest Hartford Underwriters Insurance Company Hartford Insurance Company of the Southeast Hartford Lloyd's Insurance Company Trumbull Insurance Company --Insurer Financial Strength (IFS) 'A+'. Hartford Life and Accident Insurance Company --IFS 'A'. Hartford Life Insurance Company --IFS 'BBB+'; --Medium-term note program 'BBB'. Hartford Life Global Funding --Secured notes program 'BBB+'. Hartford Life Institutional Funding --Secured notes program 'BBB+'. Hartford Life and Annuity Insurance Company --IFS 'BBB+'. The Rating Outlook is Stable. Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market on the withdrawal of Hartford Financial Services Group, Inc. and its subsidiaries ratings as a courtesy to investors. Fitch's last rating action on Hartford Financial Services Group, Inc. and its subsidiaries occurred on April 22, 2014. For additional information, see 'Fitch Affirms Hartford and P/C Sub's Ratings; Outlook Stable; Takes Various Actions on Life Subs', which is available at 'www.fitchratings.com'. Contact: Brad Istwan Director +1-312-368-3197 Fitch Ratings, Inc. 70 W. Madison Street Chicago, IL 60602 Media Relations: Brian Bertsch, New York, Tel: +1 212-908-0549, Email: brian.bertsch@fitchratings.com. Additional information is available at 'www.fitchratings.com'. ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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