Fitch Affirms MassMutual Ratings; Outlook Stable
Proquest LLC |
Fitch Ratings has affirmed all ratings for
A complete list of ratings follows below. The Rating Outlook is Stable.
KEY RATING DRIVERS:
The ratings and outlook are supported by
Fitch views
In 2013,
In addition to
In 2013,
Other rating concerns include challenges related to macroeconomic factors and competitive market conditions in the company's core insurance products. Fitch believes challenges associated with uncertain monetary policy and ongoing discord among government officials could pose risk to the European and U.S. economy and credit outlook. These factors could have a negative effect on
The ratings on
MassMutual Global Funding is a limited liability company domiciled in the
RATING SENSITIVITIES:
Key rating triggers that could lead to an upgrade include:
--Sustained improvement in quality and stability of operating results, investment performance and capital generation.
Key rating triggers that could lead to a downgrade include:
--Increased volatility in capital and earnings due to higher than expected credit-related losses, adverse outcome to litigation or other unexpected developments.
--NAIC risk-based capital ratio below 400 percent.
--Surplus notes to TAC ratio above 15 percent.
--A change in
Fitch has affirmed the following ratings with a Stable Outlook:
--Insurer Financial Strength (IFS) at 'AA+';
--Issuer Default Rating (IDR) at 'AA';
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--
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--Short-term IDR at 'F1+';
--Commercial paper program at 'F1+'.
--IFS at 'AA+'.
MassMutual Global Funding
--Secured notes program at 'AA+'.
--'Insurance Rating Methodology' (November 2013).
Insurance Rating Methodology
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