S&P: Nationwide Mutual stable

Standard & Poor's said it revised its outlook on Nationwide Mutual Insurance Co. and its affiliates to stable from negative.

The agency said it also revised its outlook on Nationwide Financial Services Inc. and its life insurance affiliates to stable from negative.

Further, S&P said it said that it affirmed its A+ counterparty credit and financial strength ratings on Nationwide Mutual and all of its core companies, its A counterparty credit and financial strength ratings on related issuers and its BBB+ counterparty credit rating on Nationwide Financial.

"We revised the outlook to stable because Nationwide and NFS have continued to benefit from strong competitive positions and franchises in both the personal P/C insurance and retirement savings and life insurance industries," said S&P credit analyst Tim Connor.

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