S&P upgrades Swiss Life

Standard & Poor’s said it raised the insurer financial strength and counterparty credit ratings on Swiss Life AG to A from A-.

The agency also said it raised the counterparty credit rating on the group’s holding company, Swiss Life Holding AG, to BBB+ from BBB.

The outlook is stable.

S&P also said it raised the ratings on the group’s senior unsecured notes issued by Swiss Life Holding and the junior subordinated notes issued by Swiss Life to BBB+ from BBB.

Swiss Life has demonstrated a track record of sustainable, very strong capital and earnings despite the challenging operating environment, the agency said.

The company has successfully strengthened its capital base, S&P said, and has a strong competitive position based on its market leadership and a strong brand and reputation.

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