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Research Update: Sun Life Financial Inc. On Watch Negative; Sun Life Assurance Co. of Canada (U.S.) And Subsidiaries To 'A-' From 'AA-' Dec 11 Product Image

Research Update: Sun Life Financial Inc. On Watch Negative; Sun Life Assurance Co. of Canada (U.S.) And Subsidiaries To 'A-' From 'AA-' Dec 11

  • Published: December 2011
  • Region: Canada, United States
  • Standard & Poors

Abstract
Sun Life Financial Inc. announced that it will discontinue sales of its U.S. variable annuity (VA) and U.S. individual life products effective Dec. 31, 2011. We have placed our ratings, including our 'A' counterparty credit rating, on Sun Life Financial Inc. on CreditWatch with negative implications, reflecting the potential loss of earnings quality and diversification at the holding company. In addition, we have revised our view of Sun Life Assurance Co. of Canada (U.S.) and subsidiaries (SLUS) to nonstrategically important to Sun Life Financial Inc., from core. As a result, we lowered our long-term counterparty and financial strength rating on SLUS to 'A-' and placed the ratings on CreditWatch with negative implications. The ratings on the Canadian entities within the...

Companies mentioned in this report are: Sun Life Financial Inc.,Sun Life Assurance Co. of Canada,Clarica Life Insurance Co.,Sun Life Assurance Co. of Canada (U.S.),Independence Life & Annuity Co.,Sun Life Insurance & Annuity Co. of New York,Sun Life Assurance Co. of Canada (U.S. branch),Sun Canada Financial Co.,Sun Life Hong Kong Ltd.,Sun Life Capital Trust,Sun Life Financial Global Funding READ MORE >

Sun Life Financial Inc.,Sun Life Assurance Co. of Canada,Clarica Life Insurance Co.,Sun Life Assurance Co. of Canada (U.S.),Independence Life & Annuity Co.,Sun Life Insurance & Annuity Co. of New York,Sun Life Assurance Co. of Canada (U.S. branch),Sun Canada Financial Co.,Sun Life Hong Kong Ltd.,Sun Life Capital Trust,Sun Life Financial Global Funding III LP,Sun Life Capital Trust II

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