Fitch Upgrades Voya Holdings Inc. Debt; Outlook Stable

CHICAGO--(BUSINESS WIRE)-- Fitch Ratings has upgraded the ratings on Voya Holdings Inc.'s (Voya Holdings) senior unsecured debt to 'A+' from 'A'. These notes are guaranteed by ING Group and their rating is therefore based on ING Group's 'A+' long-term Issuer Default Rating (IDR).

KEY RATING DRIVERS

On April 14, 2016 Fitch upgraded the long-term IDR of ING Group to 'A+' from 'A.' The Outlook is Stable. See https://www.fitchratings.com/site/fitch-home/pressrelease?id=1002508">'Fitch Upgrades ING Bank and ING Group to 'A+'; Outlook Stable' for additional details.

RATING SENSITIVITIES

The rating of the Voya Holdings notes is directly linked to the credit quality of ING Group, the guarantee provider. A change in Fitch's assessment of the credit quality of ING Group would automatically result in a change of the rating on the Voya Holdings notes. Any change in Fitch's view on the contract of guarantee, or deterioration in the credit quality of the counterparties may result in a downgrade of the notes.

FULL LIST OF RATING ACTIONS

Fitch has upgraded the following ratings:

Voya Holdings Inc.

--7.25% senior notes due Aug. 15, 2023 to 'A+' from 'A';

--7.63% senior notes due Aug. 15, 2026 to 'A+' from 'A';

--6.97% senior notes due Aug. 15, 2036 to 'A+' from 'A'.

Additional information is available on www.fitchratings.com

Applicable Criteria

Insurance Rating Methodology (pub. 16 Sep 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=871172

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=1002565

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1002565

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

ALL FITCH CREDIT RATINGS ARE SUBJECT TO CERTAIN LIMITATIONS AND DISCLAIMERS. PLEASE READ THESE LIMITATIONS AND DISCLAIMERS BY FOLLOWING THIS LINK: HTTP://FITCHRATINGS.COM/UNDERSTANDINGCREDITRATINGS. IN ADDITION, RATING DEFINITIONS AND THE TERMS OF USE OF SUCH RATINGS ARE AVAILABLE ON THE AGENCY'S PUBLIC WEBSITE 'WWW.FITCHRATINGS.COM'. PUBLISHED RATINGS, CRITERIA AND METHODOLOGIES ARE AVAILABLE FROM THIS SITE AT ALL TIMES. FITCH'S CODE OF CONDUCT, CONFIDENTIALITY, CONFLICTS OF INTEREST, AFFILIATE FIREWALL, COMPLIANCE AND OTHER RELEVANT POLICIES AND PROCEDURES ARE ALSO AVAILABLE FROM THE 'CODE OF CONDUCT' SECTION OF THIS SITE. FITCH MAY HAVE PROVIDED ANOTHER PERMISSIBLE SERVICE TO THE RATED ENTITY OR ITS RELATED THIRD PARTIES. DETAILS OF THIS SERVICE FOR RATINGS FOR WHICH THE LEAD ANALYST IS BASED IN AN EU-REGISTERED ENTITY CAN BE FOUND ON THE ENTITY SUMMARY PAGE FOR THIS ISSUER ON THE FITCH WEBSITE.

View source version on businesswire.com: http://www.businesswire.com/news/home/20160415005501/en/

Fitch Ratings, Inc.
Tana M. Higman
Director
+1-312-368-3122
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst
Douglas L. Meyer, CFA
Managing Director
+1-312-368-2061
or
Committee Chairperson
Douglas M. Pawlowski, CFA
Senior Director
+1-312-368-2054
or
Media Relations
Hannah James, + 1-646-582-4947
[email protected]

Source: Fitch Ratings

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