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
- Language: English
- Published: December 2011
- Region: Canada, United States
We believe Sun Life Financial Inc.'s 2010 after-tax operating earnings will come in below our expectation and that the U.S. investment portfolio will show further asset impairments, which will add pressure to the group's capital. Based on weaker-than-expected operating earnings and expected future pressure on capital, we have lowered the ratings on SLF and its North American subsidiaries by one notch. The outlook on SLF's North American subsidiaries is stable, and the outlook on SLF is negative. NEW YORK (Standard & Poor's) April 13, 2010--Standard & Poor's Ratings Services said today that it lowered its long-term counterparty credit and financial strength ratings on Sun Life Financial Inc.'s (SLF) core insurance subsidiaries--Sun Life Assurance Co. of Canada (SLA), Sun Life Assurance...
Companies mentioned in this report are: Sun Life Financial Inc.,Sun Life Assurance Co. of Canada,Sun Life Assurance Co. of Canada (U.S.),Independence Life & Annuity Co.,Sun Life Insurance & Annuity Co. of New York,Sun Life Hong Kong Ltd.
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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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Sun Life Financial Inc.,Sun Life Assurance Co. of Canada,Sun Life Assurance Co. of Canada (U.S.),Independence Life & Annuity Co.,Sun Life Insurance & Annuity Co. of New York,Sun Life Hong Kong Ltd.