Fitch Upgrades Mitsui Life to 'A' on Acquisition by Nippon Life

January 5, 2016 7:45 AM

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(The following statement was released by the rating agency) HONG KONG/TOKYO, January 05 (Fitch) Fitch Ratings has upgraded the Insurer Financial Strength (IFS) Rating of Mitsui Life Insurance Company Limited (Mitsui Life) to 'A' from 'BBB+', following Nippon Life Insurance Company's (Nippon Life, IFS: A/Stable) completion of its tender offer to acquire Mitsui Life's shares.

Mitsui Life's IFS rating has been removed from Rating Watch Positive, which was placed on 14 September 2015, and the Outlook is Stable. KEY RATING DRIVERS The rating upgrade for Mitsui Life is based on Fitch's expectation that the company will benefit operationally and financially from being part of...

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