DUFF & PHELPS: AETNA LIFE AND CASUALTY COMPANY SENIOR DEBT RATING REAFFIRMED 'AA'
CHICAGO, Aug. 5 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has reaffirmed Aetna Life and Casualty Company's (Aetna) 'AA' (Double-A) senior debt rating following the company's completion of a $650 million shelf registration with the SEC. The company plans to initially issue $300 million in senior debt securities, and the remaining $350 million of the shelf offering will be utilized at a future date. Aetna and its subsidiaries constitute the largest shareholder-owned insurance company in the U.S. with $97.4 billion in assets and $7.7 billion in shareholders' equity at June 30, 1993. The company's debt to total capital ratio at that date was 12.2 percent. For the first six months of 1993, Aetna reported GAAP net income of $338.7 million on revenues of $8.6 billion, compared with net income of $73.5 million on revenues of $8.8 billion for the first six months of 1992. -0- 08/05/93 CONTACT: James B. Auden, 312-368-3146, or Timothy A. Bienek, 312-368-3191, both of Duff & Phelps Credit Rating Co. (AET) CO: AETNA LIFE AND CASUALTY COMPANY IN: INS SU: RTG ST: CT
-- NY063 -- X238 08/05/93
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|Date:||Aug 5, 1993|
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