Fitch puts Aflac on watch

Fitch Ratings said it placed Aflac Inc.'s AA- issuer default and A+ senior debt ratings on Rating Watch negative.

The action reflects Fitch's belief that in the current environment Aflac's sizable investment allocation in financial institution perpetual debentures exposes the company to the risk of asset impairments that could substantially weaken its future capital position, according to the agency.

Fitch said it recognizes the company's otherwise very strong balance sheet, which includes low financial leverage, high regulatory capital quality and an otherwise clean asset portfolio.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.