Moody’s rates Travelers notes A2

Moody's Investors Service said it assigned an A2 rating to $500 million of 30-year senior unsecured notes to be issued by Travelers Cos., Inc. off its shelf registration.

Travelers expects to use net proceeds to repay $500 million of 5.8% senior notes due in May 2018.

The outlook is stable.

Moody’s said the ratings are based on the company’s leading market position in many commercial, personal and specialty insurance lines of business, as well as competitive strengths arising from its strong position in the independent agency distribution channel serving middle market and small commercial customers.

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