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Moody's affirms Americo
Moody's Investors Service said it has affirmed the Baa3 senior debt rating of Americo Life, Inc. and the A3 insurance financial strength rating of its operating subsidiary, Americo Financial Life and Annuity Insurance Co.
The outlook was changed to negative from stable.
Moody's commented that the rating affirmation is based primarily on the company's relatively strong - albeit volatile under the current stressful environment - statutory capital adequacy post an anticipated capital contribution by the parent, a successful niche marketing strategy and a sizeable block of profitable life insurance policies.
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