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Moody's: Hartford, Pru Deal Positive; Helps Hartford Focus on Core Business

Moodys Investors Service gave a thumbs up to last weeks announced $615 million sale of the Hartford Financial Services Groups individual life business to Prudential Financial, despite the transaction reducing some of the Hartfords diversity in its income streams.

By Phil Gusman | Updated on October 01, 2012

Moody’s Investors Service gave a thumbs up to last week’s announced $615 million sale of the Hartford Financial Services Group’s individual life business to Prudential Financial, despite the transaction reducing some of the Hartford’s diversity in its income streams.

In its Weekly Credit Outlook, Moody’s says the sale will allow the Hartford “to focus on business in which it has greater scale and competitive advantages.” To that end, Moody’s calls the transaction “a credit-positive” for the Hartford.

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