Moody's rates St. Paul notes A3

Moody's Investors Service said it has assigned A3 ratings to $800 million of senior notes to be issued in two tranches, due 2016 and 2036, by The St. Paul Travelers Cos., Inc.

According to Moody's, the A3 ratings reflect the company's significant domestic insurance franchise as well as its strong position in many commercial and personal property casualty market segments, its substantial capital base, profitability and internal capital generation capacity and its high quality investment portfolio and good liquidity posture.

Tempering these strengths are uncertainties regarding the ultimate costs associated with mass tort liabilities, and the group's significant regional catastrophe exposures - especially in the Gulf Coast and northeast Atlantic regions.

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