Fitch to rate St. Paul Travelers unsecured notes A-

Fitch Ratings said it expects to assign an A- rating to The St. Paul Travelers Cos., Inc. planned issuance of $800 million of senior unsecured notes.

The outlook is stable.

Fitch's expected A- rating is equivalent to its rating on the company's outstanding senior unsecured notes. Fitch anticipates that St. Paul's issuance will consist of notes maturing in 2016 and 2036.

Fitch's expectation is that company's primary use of proceeds from the notes' issuance will be to pre-fund existing debt that matures later this year and to call a portion of its outstanding trust preferred securities.

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