Moody's Lowers St. Paul Ratings, Outlook Stable
NU Online News Service, April 2, 4:25 p.m. EST?Concluding a rating review started in February, Moody's Investors Service downgraded by one notch long-term and short-term ratings of The St. Paul Companies Inc. and its subsidiaries, with the outlook revised to "stable."
The downgrades involve lowering the insurance financial strength rating of St. Paul Fire & Marine and its pooled affiliates to "A1" from "Aa3" and the senior unsecured debt to "A3" from "A2." The rating for St. Paul's commercial paper was also lowered, to "Prime-2" from "Prime-1."
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