Fitch revises Taikang to negative

Fitch Ratings said it revised the outlook on Taikang Life Insurance Co., Ltd.'s insurer financial strength rating to negative from stable and affirmed the rating at A.

At the same time, the agency revised the outlook on Taikang Insurance Group Inc.'s long-term issuer default rating to negative from stable and affirmed the rating at A- and the rating on its $800 million 3½% senior unsecured bonds due 2022 at BBB+.

Fitch said the outlook revision reflects the increased vulnerability of the group's credit strength following a significant increase in risky asset exposure.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.