S&P rates Travelers debt A-

Standard & Poor's said it assigned an A- rating on Travelers Cos. Inc.'s (A-/stable/A-2) pending $500 million senior unsecured debt drawdown from its universal shelf.

The issuance has a 10-year maturity, and the company will use proceeds for general corporate purposes.

The rating reflects Travelers' very strong market position, disciplined underwriting and very strong capital, the agency said.

The company remains exposed to cyclical pricing pressures, natural and manmade catastrophes, and the potential for adverse reserve development, S&P said.

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