S&P revises Equitable view to stable

S&P said it revised the outlook for Equitable Holdings Inc. to stable from negative and affirmed the BBB+ issuer rating. Also, the agency changed the outlook to stable from negative for Equitable Financial Life Insurance Co. and Equitable Financial Life Insurance Co. of America and affirmed their A+ issuer ratings.

The outlook revision follows Equitable reporting its plan to divest a block of variable annuities for $300 million in cash and equity.

“Prior to this transaction, our negative outlook on EQH was primarily predicted on our doubts as to the company’s ability to sustain capital that’s redundant at the AA level per our model. We believe the improved capital position post-transaction will enable EQH to maintain a comfortable redundancy at the AA level,” S&P said in a press release.

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