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BULLETIN: Keyport-Sun Life U.S. Merger Credit Neutral for Sun Life Financial Inc.'s Subs Jan 04
Standard & Poors, Jan 2004
Abstract
TORONTO (Standard & Poor's) Jan. 13, 2004--Standard & Poor's Ratings Services today said that Sun Life Financial Inc.'s (TSX: SLF; NYSE: SLF; unrated) amalgamation of Keyport Life Insurance Co. (Keyport) into Sun Life Assurance Co. of Canada (U.S.) (Sun Life U.S.; AA+/Negative/--) would not affect the ratings or outlook on Sun Life U.S. Previous to the amalgamation, the financial strength ratings on these two U.S. subsidiaries were the same. With this amalgamation, the ratings on Keyport have been withdrawn. This merger was completed to achieve operational, capital, regulatory, and financial reporting efficiencies in the U.S. and has no effect on the existing rights and benefits of policyholders or contract holders from either company. Sun Life Financial acquired Keyport, a leading...
Companies mentioned in this report are: Sun Life Financial Inc.,Sun Life Assurance Co. of Canada (U.S.),Keyport Life Insurance Co.
Action: S&P Event
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.
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