Fitch affirms Western & Southern

Fitch Ratings said it affirmed the ratings of Western & Southern Financial Group, Inc., including its A+ senior debt rating and AA- long-term issuer default rating.

The outlook is stable.

The agency said the action follows the company's announcement of a planned acquisition of Gerber Life Insurance Co. from Nestle SA for about $1.6 billion.

Fitch said the acquisition affords Western & Southern immediate synergies through the build out of direct to consumer division, along with the marketing power of the strong and recognizable Gerber brand.

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