Nationwide Mutual Insurance Co. And P/C Units Outlook Revised To Stable; Ratings Affirmed Jul 06

Standard & Poors, July 2006

Abstract
NEW YORK (Standard & Poor's) July 17, 2006--Standard & Poor's Ratings Services said today that it revised its outlook on Nationwide Mutual Insurance Co. and its property/casualty affiliates (collectively referred to as Nationwide) to stable from negative. Standard & Poor's also said that it affirmed its ratings on these companies. The counterparty credit and financial strength ratings on these companies (excluding Scottsdale Insurance Co. and its affiliates) are 'A+', and the Scottsdale companies are rated 'A'. The ratings on Nationwide Financial Services Inc. (NYSE:NFS) and its life insurance subsidiaries (collectively referred to as Nationwide Financial) are unaffected by these actions. "We revised the outlook to stable from negative to reflect our belief that management's expense initiatives--in combination with an ongoing...

Companies mentioned in this report are: Nationwide Mutual Insurance Co.,Scottsdale Insurance Co.,Nationwide Financial Services Inc.
Action: Affirmed
Action: Outlook: Stable

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.

Nationwide Mutual Insurance Co.,Scottsdale Insurance Co.,Nationwide Financial Services Inc.

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