Fitch affirms Pacific Life

Fitch Ratings said it affirmed the ratings of Pacific LifeCorp and certain of its subsidiaries, including Pacific Life Insurance Co.

The outlook was revised to positive from stable.

Fitch said the affirmation and outlook revision are because Pacific LifeCorp reduced its leverage (both financial and TFC) and continued to expand its product lines while reducing exposure to legacy blocks of VA contracts. Interest coverage on a statutory basis and a GAAP basis is also improved.

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