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S&P: American Equity stable
Standard & Poor's said it revised its outlook on American Equity Investment Life Holding Co. and American Equity Investment Life Insurance Co. to stable from positive.
At the same time, S&P affirmed its BB+ long-term counterparty credit rating on AEIL and its BBB+ long-term counterparty credit and financial strength ratings on AEL.
"The outlook revision reflects our belief that American Equity's financial profile is not likely to improve sufficiently during the next year to support higher ratings, as contemplated by the previous positive outlook," said S&P credit analyst Robert A. Hafner in a news release.
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