Fitch rates National Life notes A-

Fitch Ratings said it affirmed the A- issuer default rating and BBB+ senior debt ratings of NLV Financial Corp. and assigned an A- rating to National Life Insurance Co.'s $200 million surplus notes issued in 2009.

The outlook was revised to stable from negative.

The action reflects an updated review of the group's investment results, leverage, operating results, capitalization, liquidity and financial flexibility, according to the agency.

The outlook reflects improved investment results and an updated view that the company's exposure to future investment losses under a base case scenario is manageable in the context of the company's statutory capital and operating earnings, the agency said.

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