DUFF & PHELPS: AETNA LIFE AND CASUALTY COMPANY $500 MILLION ALL PURPOSE SHELF REGISTRATION RATED 'AA'
CHICAGO, Sept. 30 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has assigned a preliminary "AA" (Double-A) senior debt rating to Aetna Life and Casualty Company's (Aetna) $500 million all purpose shelf registration. By the nature of the registration, Aetna may offer a combination of debt, preferred stock and common stock up to a limit of $500 million. The net proceeds from the sale of securities will be used for general corporate purposes. Aetna has approximately $1 billion in senior debt outstanding. Aetna and its subsidiaries constitute the largest stockholder-owned insurance company in the United States' with $97.4 billion of assets at June 30, 1993. Based on premium rankings, Aetna is also one of the nation's largest stock property-casualty insurers, one of the largest writers of group health and managed care products, group life, and annuity and pension products. -0- 9/30/93 /CONTACT: James B. Auden, CFA 312-368-3146, or Timothy A. Bienek, 312-368-3192, both of Duff & Phelps Credit Rating Co./
CO: Aetna Life and Casualty Company ST: Connecticut IN: INS SU: RTG
TS -- NY080 -- 7366 09/30/93 14:08 EDT
|Printer friendly Cite/link Email Feedback|
|Date:||Sep 30, 1993|
|Previous Article:||PERMITTING PROCESS INITIATED ON AVOCA GAS STORAGE PROJECT CAPACITY AVAILABLE IMMEDIATELY|
|Next Article:||NEW FITCH MODEL UNBUNDLES RETAILER CREDIT CARD OPERATIONS -- FITCH FINANCIAL WIRE --|