S&P affirms Aviva on merger news

Standard & Poor’s said it affirmed the A+ long-term counterparty credit and financial strength ratings on the core operating entities across the Aviva group, including the A- long-term counterparty credit rating on the holding company, Aviva plc.

The outlook on all core operating entities and the holding company is stable.

On Nov. 21, Aviva and Friends Life Group announced that discussions about the possible all-share combination of the two groups were at an advanced stage, S&P said.

Although there is no certainty that Aviva will make a formal offer, the agency said it believes the confirmation by Friends Life’s board further increases the likelihood of a formal offer.

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