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Fitch Plans to Withdraw CNA Financial Corporation's Ratings
October 1, 2014 / 5:28 PM / 3 years ago

Fitch Plans to Withdraw CNA Financial Corporation's Ratings

(The following statement was released by the rating agency) CHICAGO, October 01 (Fitch) Fitch Ratings plans to withdraw the ratings on CNA Financial Corporation on or about Oct. 30, 2014, for commercial reasons. Fitch currently rates the company and its insurance subsidiaries as follows: CNA Financial Corporation --Issuer Default Rating 'BBB+'; --$549 million 5.85% due Dec. 15, 2014 'BBB'; --$350 million 6.5% due Aug. 15, 2016 'BBB'; --$150 million 6.95% due Jan. 15, 2018 'BBB'; --$350 million 7.35% due Nov. 15, 2019 'BBB'; --$500 million 5.875% due Aug. 15, 2020 'BBB'; --$400 million 5.75% due Aug. 15, 2021 'BBB'; --$243 million 7.25% due Nov. 15, 2023 'BBB'; --$550 million 3.95% due May 15, 2024 'BBB'. Continental Casualty Company Group Members: American Casualty Company of Reading, Pennsylvania Columbia Casualty Company Continental Casualty Company The Continental Insurance Company The Continental Insurance Company of New Jersey National Fire Insurance Company of Hartford Surety Bonding Company of America Transportation Insurance Company Universal Surety of America Valley Forge Insurance Company Western Surety Company --Insurer Financial Strength rating 'A'. The Rating Outlook is Stable. Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that investors benefit from increased rating coverage and is providing approximately 30 days' notice to the market of the withdrawal of CNA Financial Corporation ratings as a courtesy to investors. Fitch's last rating action on CNA Financial Corporation occurred on Sept. 4, 2014. Fitch affirmed the company's ratings at that time. Contact: Brad Istwan Director +1-312-368-3197 Fitch Ratings, Inc. 70 W. Madison Street Chicago, IL 60602 Media Relations: Elizabeth Fogerty, New York, Tel: +1 (212) 908 0526, Email: elizabeth.fogerty@fitchratings.com. Additional information is available at 'www.fitchratings.com'. ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: here. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

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