(The following statement was released by the rating agency) CHICAGO, January 21 (Fitch) Fitch Ratings expects to assign an ‘A’ rating to Progressive Corporation’s (NYSE: PGR) $400 million issuance of senior unsecured notes maturing in 2045. The new notes’ rating is equivalent to the ratings on PGR’s existing senior debt. KEY RATING DRIVERS Fitch’s anticipated rating reflects PGR’s strong balance sheet and Fitch’s belief that PGR’s financial leverage, as measured by total debt to total capi

Source: Financials