Moody's upgrades OneAmerica

Moody's Investors Service said it upgraded the senior debt rating of OneAmerica Financial Partners, Inc. to Baa1 from Baa2.

The outlook is stable.

Moody's noted OneAmerica has made substantial improvements in its financial profile in recent years, raising its GAAP and statutory operating profitability.

"OneAmerica's solid performance during the current credit crisis is driven by its conservative investment portfolio, its excellent and stable capital adequacy, and very good financial flexibility and liquidity," Moody's vice president Arthur Fliegelman said in a written statement.

"Our expectations are that its earnings capacity, which has been improving over the past few years, despite being depressed by declining 401(k) revenues as a result of equity market declines and modest investment losses, should enable it to maintain its capital strength," Fliegelman said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.