Fitch: Aviva view to stable

Fitch Ratings said it revised Aviva plc's outlook to stable from negative, and affirmed its long-term issuer default rating at A, senior unsecured debt at A and $300 million callable subordinated notes at BBB+.

The actions reflect the recovery in Aviva's capital position, driven by financial markets and balance sheet de-risking, Fitch said.

The ratings reflect the group's diversification across product lines with a broad range of life, non-life and asset-management products, the agency said, and across regions.

In January 2011, Aviva announced plans to reduce external debt by at least £700 million in 2011 to 2013, which is a positive rating factor given the group's strong liquidity, Fitch said.

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