Fitch rates Delaware Life notes BBB

Fitch Ratings said it assigned a BBB rating to Delaware Life Insurance Co.'s (DLIC) surplus notes.

“The surplus notes are subordinated in priority relative to insurance company obligations, and the rating reflects standard notching based on Fitch's rating criteria. The surplus notes are rated two notches below DLIC's A- insurer financial strength rating, reflecting a baseline recovery assumption of below-average,” the agency said in a statement.

The outlook is stable.

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