Fitch Rates Massachusetts Mutual’s Surplus Note Issue ‘AA-‘
The following is from Fitch Ratings on
Fitch Ratings has assigned an 'AA-' rating to
On
KEY RATING DRIVERS
The ratings are equivalent to the ratings assigned to
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 assigned the following rating to
--
Additional information is available at 'fitchratings.com'.
--'Insurance Rating Methodology' (September 2014).
Insurance Rating Methodology
http://fitchratings.com/creditdesk/reports/ report_frame.cfm?rpt_id=756650
Additional Disclosure
Solicitation Status
http://fitchratings.com/gws/en/disclosure/ solicitation?pr_id=982747
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