Fitch Affirms Friends Life's IFS at 'A+'/Positive on Aviva Acquisition

April 13, 2015 8:18 AM

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(The following statement was released by the rating agency) LONDON, April 13 (Fitch) Fitch Ratings has affirmed Friends Life Holdings plc's (FLH) Long-term Issuer Default Rating (IDR) at 'A-' and its main operating company, Friends Life Limited's (FLL) Insurer Financial Strength (IFS) rating at 'A+' and removed them from Rating Watch Positive (RWP).

This follows the completion of the acquisition of the Friends Life group by Aviva Plc. The Outlooks are Positive. A full list of rating actions is available at the end of this commentary. KEY RATING DRIVERS We view the Friends Life group as "Core" to Aviva under our insurance rating methodology, and...

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