Fitch raises Asahi Life, bonds

Fitch Ratings said it upgraded Asahi Mutual Life Insurance Co.’s insurer financial strength rating to BBB- (good) from BB+ (moderately weak) and its long-term issuer default rating to BB+ from BB.

The outlook is stable.

The agency simultaneously upgraded Asahi Life's $350 million cumulative perpetual subordinated bonds with interest deferral options issued in January 2017 to BB from BB-.

Fitch said the upgrade is based on the improvement in Asahi Life's capitalization and financial leverage, as well as its resilient financial performance and earnings backed by steady growth in the profitable third (health) sector.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.