Fitch affirms Travelers

Fitch Ratings said it affirmed its ratings on Travelers Cos., Inc. as follows: issuer default rating A+, senior unsecured notes A, subordinated notes A- and insurer financial strength on insurance company subsidiaries at AA.

The outlook is stable.

The agency said that the affirmations reflect Travelers's robust earnings profile and strong capitalization and competitive positions in a wide variety of business lines.

The affirmation also reflect Fitch's belief that Travelers's 2008 earnings are likely to be pressured by declining margins in many business lines, but will continue to be strongly supportive of the company's high ratings.

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