S&P revises Principal view to stable

S&P said it revised its outlook on the holding companies and operating companies of Principal Financial Group Inc. to stable from negative.

“The stable outlook on PFG reflects our expectation that the group's business diversity will be sustainable, even in the wake of divesting some annuity and life insurance businesses in the near future, and that management will maintain capital redundant at the BBB level per our RBC model over the next two years,”

Concurrently, the agency affirmed the A+ issuer credit ratings on Principal Life Insurance Co. and Principal National Life Insurance Co., the insurance operating subsidiaries of PFG. The agency also affirmed the A- issuer credit ratings on the group's nonoperating holding company PFG and intermediate non-operating holding company Principal Financial Services Inc.

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