Loading LiveCycle Banners.
  1. News Articles
  2. Related News Articles
News Article Details

Fitch: CNA Downgraded to A-

Back | A- | A+
 Email This     Print     Subscribe

Posted on 13 Feb 2009

Indicating CNA Financial Corp.'s exposure to the volatile credit and investment market conditions, Fitch Ratings has downgraded its financial strength rating of the carrier's property/casualty insurance subsidiaries to A- from A.

Fitch also downgraded Chicago-based CNA's issuer default rating to BBB from BBB+ and its senior debt rating to BBB- from BBB.

In its announcement the rating agency stated that the credit and investment market conditions “are having a negative impact on (CNA's) asset portfolio, earnings and capital position. Fitch believes that CNA’s negative earnings demonstrate a higher level of financial volatility than what was anticipated at the prior rating level.”


Post a Comment
If you are a Storefront / Tradingfloor user, click here to login.
Note: As a guest user, please fill out the form below to post a comment.
Post your comments here.
Name :
Email Address :
Captcha :
Comments :
Character left : 2000