Moody's affirms Aflac

Moody's Investors Service said it affirmed Aflac, Inc.'s senior unsecured debt at A2, senior unsecured shelf rating at provisional A2 and subordinated shelf at provisional A3.

The agency also said it affirmed the Aa2 insurance financial strength rating of its operating subsidiary, American Family Life Assurance Co. of Columbus.

The outlook remains negative.

The ratings reflect the continued strength of the company's business franchise and the resiliency of its financial profile, Moody's said.

The financial profile of the company is further supported by its strong earnings capacity with very consistent performance during the financial downturn and modest financial leverage, the agency said.

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