Protective Life (PL) Placed on Review for Upgrade at Moody's
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Fitch Places Protective Life (PL) on Rating Watch Positive
June 4, 2014 11:54 AM EDTFitch Ratings has placed the ratings for Protective Life (NYSE: PL) (IDR 'BBB+') and its primary life insurance subsidiaries (IFS 'A') on Rating Watch Positive.
KEY RATING DRIVERS:
The rating action follows the announcement that PL has agreed to be acquired by Japan-based Dai-ichi Life Insurance Company, Ltd. (Dai-ichi Life) in a transaction valued at $5.7 billion. The transaction is expected to close in early 2015 subject to customary shareholder and regulatory approvals.
Fitch's views the proposed... More
S&P Places Protective Life Corp. (PL) on CreditWatch Negative Following Dai-ichi Announcement
June 4, 2014 11:00 AM EDTStandard & Poor's Ratings Services said today that it has placed its 'A-' long-term counterparty credit rating on Protective Life Corp. (NYSE: PL) and its 'AA-' long-term counterparty credit and financial strength ratings on Protective's operating subsidiaries on CreditWatch with negative implications.
"The action... More
