S&P cuts Lincoln National outlook to stable

Standard & Poor's said it revised its outlook on Lincoln National Life Insurance Co. and Lincoln Life and Annuity Co. of New York to stable from positive.

At the same time, S&P said it revised its outlook on the holding company, Lincoln National Corp., to negative from stable.

In addition, S&P said it affirmed its AA counterparty credit and financial strength ratings on Lincoln National Life Insurance Co. and Lincoln Life and Annuity Co. of New York, its AA- counterparty credit and financial strength ratings on First Penn-Pacific Life Insurance Co. and its A+ counterparty credit rating on LNC.

The stable outlook on Lincoln Life reflects the strength and diversity of the operating group's competitive position and earnings profile as well as its very strong capitalization, the agency said.

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