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TMCNet:  Fitch Plans to Withdraw United Services Automobile Association & Insurance Subs Ratings

[April 28, 2014]

Fitch Plans to Withdraw United Services Automobile Association & Insurance Subs Ratings

CHICAGO --(Business Wire)--

Fitch Ratings plans to withdraw the ratings of United Services Automobile Association (USAA) and its insurance subsidiaries on or about May 28, 2014, for business reasons. Fitch currently rates USAA and its insurance subsidiaries as follows:

USAA Capital Corp.

--Issuer Default Rating (IDR) 'AAA';

--Short-term IDR and commercial paper 'F1+';

--3.5% $200 million medium-term notes due July 17, 2014 'AA+';

--1.05% $250 million senior unsecured notes due Sept. 30, 2014 'AA+';

--2.288% $250 million senior unsecured notes due Dec. 13, 2016 'AA+'.

Primary insurance companies:

United Services Automobile Association

USAA Casualty Insurance Company

USAA General Indemnity Company

USAA County Mutual Insurance Company

USAA Texas Lloyds Co.

USAA Life Insurance Company

--Insurer Financial Strength 'AAA'.

Fitch reserves the right in its sole discretion to withdraw or maintain any rating at any time for any reason it deems sufficient. Fitch believes that ivestors benefit from increased rating coverage by Fitch and is providing approximately 30 days' notice to the market on the withdrawal of USAA and its insurance subsidiaries ratings as a courtesy to investors.

Fitch's last rating action occurred on Feb. 4, 2014. Fitch affirmed its ratings on USAA and its insurance subsidiaries.

Additional information is available at 'www.fitchratings.com'.

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON (News - Alert) THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.


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