Standard & Poor's Ratings Service downgraded the financialstrength rating on the Hartford Financial Services Group andrevised the outlook for State Farm Mutual Automobile InsuranceCo.
|Yesterday's action reflected perceived capital weakness at theHartford and State Farm, S&P said.
|S&P lowered the financial strength rating on theproperty-casualty and life companies from "A-plus" to "A." It alsolowered the counterparty credit rating on Hartford FinancialServices Group to "triple-B" from "triple-B-minus."
|The outlook on all the companies is negative.
|State Farm saw its outlook revised from stable to negative, butthe "double-A" financial strength ratings on the core companiesremained intact.
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