Moody's: Pacific LifeCorp view negative

Moody's Investors Service said it affirmed Pacific LifeCorp's senior debt ratings at A3 and changed its outlook to negative from stable.

The affirmation is based on the company's continued strong regulatory capitalization and excellent financial flexibility despite pressures from expected investment losses arising from the challenging economic environment and the impact of a continued negative equity market on its variable annuity business, according to Moody's.

The change in outlook reflects expected pressures on profitability and capital adequacy, the agency said.

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