Moody's rates Aviva USA Baa1, on review

Moody's Investors Service said it placed on review for downgrade the A1 insurance financial strength rating of Aviva Life and Annuity Co. as well as all related U.S. ratings.

In the same rating action, Moody's said it assigned an issuer rating of Baa1, on review for downgrade, to Aviva USA Corp., the holding company for the U.S. life insurance operating subsidiaries of the group. Aviva USA is an indirectly owned subsidiary of Aviva plc.

The agency said the review for downgrade was prompted by the parent company's recently begun strategic review of its business segments, including Aviva USA.

The parent company's business review has added potential uncertainty to Aviva's plc's continued presence in the U.S. as well as the amount of potential parental support to Aviva USA going forward, the agency said.

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