DUFF & PHELPS RATES AETNA LIFE AND CASUALTY COMPANY SENIOR DEBT RATING REAFFIRMED AT 'AA'
CHICAGO, Sept. 8 /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 $200 million drawdown of senior notes from its $650 million shelf registration. The company had issued $400 million in senior debt securities on Aug. 10, 1993. Of the original $650 million shelf registration, $50 million remain available for future use. 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- 9/8/93 /CONTACT: James B. Auden, CFA, 312-368-3146 or Timothy A. Bienek, 312-368-3192, both of Duff & Phelps Credit Rating Co./ (AET)
CO: Aetna Life and Casualty Company ST: Illinois IN: INS SU: RTG
WB -- NY044 -- 9810 09/08/93 12:22 EDT
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|Date:||Sep 8, 1993|
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