Moody's affirms Aflac

Moody's Investors Service said it affirmed the A2 senior debt rating of Aflac, Inc.

The outlook remains negative.

The agency said the affirmation reflects the continued strength in the company's franchise and the solidity of its business profile. The financial profile of the company is further supported by its strong earnings capacity, strengthened capital position and modest financial leverage.

The negative outlook reflects Moody's view that Aflac still faces significant risks within its concentrated investment portfolio and its capital could suffer material losses under a stress scenario.

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