S&P rates Aflac notes A-

Standard & Poor's said it affirmed its A- long-term counterparty credit rating on Aflac Inc. and its AA- financial strength and counterparty credit ratings on the company's rated insurance entities.

In addition, S&P assigned an A- debt rating to Aflac's $500 million senior note issue.

The outlook is negative.

"The ratings on Aflac reflect our view of the company's very strong business risk profile (BRP) and very strong financial risk profile (FRP)," S&P said in a news release. "The BRP primarily reflects the company's very strong competitive position. Our view of the FRP is based on Aflac's very strong capital and operating performance."

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