Research Update: Aflac Inc. And Insurance Subsidiaries Ratings Affirmed; Outlook Remains Negative
Standard & Poors, April 2011
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Abstract
Although Aflac's investment portfolio continues to have significant concentrations, management is actively focused on reducing them, and we believe the company has the ability to generate and retain statutory earnings sufficient to maintain capital supportive of the current ratings. In addition, we expect that the recent Japan earthquake/tsunami and radiation leakage will have only a nominal impact on Aflac's operating performance. As a result, we have affirmed our 'A-' counterparty credit rating on Aflac Inc. and our 'AA-' counterparty credit and financial strength ratings on Aflac's insurance companies. The outlook on these companies remains negative, reflecting the outlook revision on Japan to negative. On April 27, 2011, Standard & Poor's Ratings Services affirmed its 'A-' counterparty credit rating on Aflac...
Companies mentioned in this report are: Aflac Inc.,American Family Life Assurance Co. of Columbus,American Family Life Assurance Co. of NY,American Family Life Assurance Co. - Japan Branch
Action: Affirmed
Aflac Inc.,American Family Life Assurance Co. of Columbus,American Family Life Assurance Co. of NY,American Family Life Assurance Co. - Japan Branch
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