On Nov. 12, 2008, Standard & Poor's Ratings Service lowered to 'BBB+' from 'A-' its long-term counterparty credit and insurer financial strength ratings on Switzerland-based Swiss Life/Schweizerische Lebensversicherungs- und Rentenanstalt (Swiss Life). At the same time, we lowered to 'BBB-' from 'BBB' the long-term counterparty credit rating on the holding company, Swiss Life Holding. The ratings on subordinated debt issued or secured by Swiss Life and on the senior unsecured bond issued by Swiss Life Holding were also lowered to 'BBB-' from 'BBB'. The outlook on all entities is stable. The downgrade reflects uncertainties about Swiss Life's capability to manage major strategic challenges to produce strong and sustainable earnings in the near term following a weakening of its earnings and...
Companies mentioned in this report are:
- Swiss Life AG
- Soc. Suisse d'Ass. generales sur la Vie Humaine (Swiss Life French Branch)
- Swiss Life AG, Niederlassung fuer Deutschland
- Swiss Life Holding AG
Action: Outlook: Stable
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Product Type: Research Update
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