Moody’s reviews Hanwha Life notes for cut

Moody’s Investors Service said it placed on review for downgrade the A3 (hyb) rating on Hanwha Life Insurance Co. Ltd.’s subordinated capital securities. The outlook was stable.

The review for downgrade reflects Hanwha Life’s weakening credit profile because of lower profitability and pressure on capitalization from lower interest rates. Moody’s said it believes it will be challenging for Hanwha Life to improve its profitability given the prolonged low-interest-rate environment in a weakening economy, with the coronavirus outbreak adding downside risk.

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