Moody’s affirms Western & Southern

Moody's Investors Service said it affirmed the A3 senior unsecured debt rating of Western & Southern Financial Group, Inc.

The outlook is stable.

The agency said the action follows the company's announcement whereby Western and Southern Life Insurance Co. plans to acquire Gerber Life Insurance Co. from a wholly owned indirect subsidiary of Nestle SA (Aa2 negative).

Moody’s said the proposed acquisition improves the company's business profile as it expands its life insurance business in terms of market position and distribution.

“The complementary nature of the direct-to-consumer (DTC) focused life insurance business will enhance W&SFG's current life insurance presence and add to its diverse distribution network,” the agency said in a news release.

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