Fitch affirms CNA

Fitch Ratings said it affirmed CNA Financial Corp.’s issuer default rating at BBB+ and senior unsecured debt at BBB.

The agency also affirmed the insurer financial strength ratings of CNA's property/casualty insurance subsidiaries at A.

The outlook is stable.

Fitch's rating rationale for the affirmation of CNA's ratings reflects the company's strong capitalization, stable earnings, and adequate to modestly deficient reserve quality. The ratings also reflect anticipated challenges in a competitive property/casualty market rate environment, the potential for adverse reserve development and deterioration in runoff operations including long-term care, the agency said.

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