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Article: A.M. Best Revises Outlook to Negative for Issuer Credit Ratings of New York Life; Affirms Financial Strength Rating.
- Article from:
- Investment Weekly News
- Article date:
- July 4, 2009
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A.M. Best Co. has revised the outlook to negative from stable and affirmed the issuer credit ratings (ICR) of "aaa" and long-term debt ratings of New York Life Insurance Company and its wholly-owned subsidiaries, New York Life Insurance and Annuity Corporation and NYLIFE Insurance Company of Arizona (collectively referred to as New York Life). Concurrently, A.M. Best has affirmed the financial strength rating of A++ (Superior) of New York Life. The outlook for the FSR is stable. All companies are headquartered in New York, NY. (See below for a detailed listing of the debt ratings.)
The revised outlook for the ICRs and debt reflects the recent decline in New York ...