Hartford fails to impress S&P with $3.4bn buyback
Hartford Financial Services Group will buy back $3.4bn of its shares issued under the US government's bailout scheme, following a dramatic return to profit in 2009.
But Standard & Poor's (S&P) was not so impressed and said it was cutting its outlook on Hartford to negative because investment losses have held back the pace of the US insurer's earnings recovery.
Hartford is conducting a public offering of equity and debt securities consisting of $1.45bn of common stock and $500mn of...
You are currently viewing an incomplete version of this article. If you are a subscriber then please login now. If you are a non-subscriber but would like to be able to view this article, then please select from the purchasing options below.
Purchase
Follow us:
