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Allmerica Financial Life Insurance & Annuity Co Ratings Raised To 'BBB' And Taken Off Watch
Standard & Poors, Dec 2005
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.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) Dec. 30, 2005--Standard & Poor's Ratings Services said today that it raised its counterparty credit and financial strength ratings on Allmerica Financial Life Insurance & Annuity Co. (AFLIAC) to 'BBB' from 'BB' and removed them from CreditWatch with positive implications. Standard & Poor's also said that the outlook on AFLIAC is stable. This rating action follows the close of Goldman Sachs Reinsurance Group's (GSRG) acquisition of AFLIAC from the Hanover Insurance Group (formerly Allmerica Financial Group). 'We raised the ratings because we expect that GSRG will manage AFLIAC as part of an ongoing operation and look to add business to AFLIAC's books through additional acquisitions,' explained Standard & Poor's credit analyst Ovadiah Jacob. 'Under GSRG,...
Companies mentioned in this report are: Commonwealth Annuity and Life Insurance Company: A Goldman Sachs Company,Goldman Sachs Group Inc. (The)
Action: Removed From CreditWatch
Action: Upgraded
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