S&P rates Travelers notes A

S&P said it assigned an A senior debt rating to the Travelers Cos. Inc.'s proposed $500 million 30-year senior debt issuance.

The proceeds will be used to retire $500 million of 5.90% senior notes due June 2, 2019, S&P said.

The agency said it expects no material change in financial leverage or fixed-charge coverage metrics due to this issue.

The group's financial flexibility is considered strong and financial leverage is expected to be about 20%, S&P said.

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