S&P ups FGL Holdings ratings

S&P said it raised the issuer credit ratings on Fidelity & Guaranty Life Holdings Inc., FGL Holdings, and CF Bermuda Holdings Ltd. to BBB- from BB+, and the issuer credit ratings on operating subsidiaries Fidelity & Guaranty Life Insurance Co., Fidelity & Guaranty Life Insurance Co. of New York, and F&G Life Re Ltd. to A- from BBB+.

The upgrades follow Fidelity National Financial Inc.’s acquisition of FGL Holdings.

The agency also raised F&G’s senior debt to BBB from BB+, based on Fidelity National’s guarantee, S&P said.

S&P also removed F&G’s ratings from CreditWatch with positive implications.

The outlook is stable.

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