S&P cuts StanCorp view

Standard & Poor's said it revised its outlook on StanCorp Financial Group Inc., and its subsidiary, Standard Insurance Co., to negative from stable.

At the same time the agency said it affirmed its A+ counterparty credit and financial strength ratings on Standard Insurance, its BBB+' counterparty credit and senior unsecured debt ratings on StanCorp and the BBB- debt rating on StanCorp's junior subordinated issue of fixed-to-floating-rate income capital obligation notes.

"The outlook revision resulted from StanCorp's announcement that its preliminary second-quarter 2012 operating results were worse than expected and that full-year 2012 operating results will likely be worse than expected," said S&P credit analyst Neal Freedman in a news release.

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