|
|
Article: Fitch Downgrades OM Financial Life Ins Co's IFS to 'BBB'; Rating Watch Negative.
- Article from:
- Business Wire
- Article date:
- September 15, 2008
CopyrightCOPYRIGHT 2008 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
|
NEW YORK -- Fitch Ratings has downgraded and placed on Rating Watch Negative the following ratings of OM Financial Life Insurance Company (OM Financial) and its wholly owned subsidiary OM Financial Life Insurance Company of NY (OM Financial of NY), collectively referred to as OM Financial Companies:
OM Financial
OM Financial of NY
--Insurer financial strength (IFS) rating to 'BBB' from 'BBB+'.
Today's rating action follows Fitch's rating actions on Old Mutual plc's (Old Mutual) holding company Issuer Default Rating (IDR) and related debt ratings (see separately published press release dated 15 Sept. 2008).
The action also ...