Fitch: No Rating Action on Fidelity & Guaranty Life from HRG Group Announcement

April 8, 2015 5:50 PM

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(The following statement was released by the rating agency) NEW YORK, April 08 (Fitch) Fitch Ratings has taken no rating action on Fidelity & Guaranty Life or any of its insurance subsidiaries (collectively F&G Life) following HRG Group, Inc.'s (HRG) announcement on April 6 that it will be exploring strategic alternatives for F&G Life, which may include a sale of all or part of its 80.6% ownership interest.

Fitch views this announcement of a potential sale as credit neutral and will not be taking rating action at this time. The 'BB' long-term IDR of the holding company, Fidelity & Guaranty Life Holdings Inc, is currently subject to wider notching from the IFS rating of the operating entities as a resul...

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