S&P: Great-West Lifeco unchanged

Standard & Poor's said that Great-West Lifeco Inc.'s (A+/stable) announced agreement to sell its U.S. healthcare operations to CIGNA Corp. (BBB+/positive/A-2) would not affect the ratings or outlook on Great-West Lifeco or any of its rated insurance subsidiaries.

The agency said that the financial strength ratings on Great-West Lifeco's lead Canadian and U.S. operating insurance companies are AA with a stable outlook.

On closing, Lifeco will receive $1.5 billion in cash and will retain an estimated $750 million of equity that has been required to support this business, S&P noted.

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