Fitch alters Principal view to stable

Fitch Ratings said it changed Principal Financial Group Inc.’s outlook to stable from negative and affirmed its A issuer rating and A- senior unsecured debt rating.

“The rating affirmation and revision of the rating outlook to stable from negative follows the company's announcement of the results of its strategic review focusing on business mix and capitalization targets. PFG's rating outlook was negative to reflect uncertainty around the company's business profile and capital management pending results of PFG's strategic review, the agency said in a press release.

Fitch said it considers the changes due to its strategic review, including the discontinuation of sales of its U.S. retail fixed annuities and retail life insurance products and pursuit of strategic alternatives for the in-force annuity and life insurance blocks, as neutral to the ratings.

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