Moody’s affirms Aflac

Moody’s Investors Service said it affirmed the senior debt rating of Aflac Inc. at A3.

The agency said the action follows the company's conversion of its Japan branch operations into a separate subsidiary.

The outlook is stable.

Moody’s said Aflac's A3 senior debt rating and stable outlook reflect the company's excellent franchise and strong market position in supplemental health insurance in both Japan and the United States, well-established niche distribution channels, and strong and predictable earnings capacity.

Moody's added that Aflac's excellent financial profile is supported by moderate leverage and strong coverage of interest expense.

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