Fidest – Agenzia giornalistica/press agency

Quotidiano di informazione – Anno 33 n° 335

Fitch Upgrades Financial Strength Ratings of Athene’s Operating Companies to ‘A’

Posted by fidest press agency su giovedì, 2 Maggio 2019

Fitch Ratings (“Fitch”) announced it has upgraded the Insurer Financial Strength (IFS) ratings of Athene Holding Ltd.’s (“Athene”) (NYSE: ATH) operating companies to ‘A’ (strong) from ‘A-’ (strong). At the same time, Fitch has also upgraded the Long-Term Issuer Default Rating (IDR) of Athene Holding Ltd. to ‘BBB+’ from ‘BBB’. Fitch’s ratings and analysis are intended to assess the level of corporate financial strength and creditworthiness. The ‘A’ financial strength rating is Fitch’s third highest rating category, reflecting high credit quality and low default risk.“This upgrade reflects our superior financial results, very strong capital position and our increasing business diversification from our multi-channel distribution platform,” said Jim Belardi, CEO of Athene. “We are proud that S&P, A.M. Best and now Fitch have all recognized Athene with ‘A’ ratings, and we look forward to additional ratings upgrades in the future. Our increasing presence in the marketplace as an A-rated company will enable us to establish new partnerships and expand our reach as a financial solutions provider to a broader market.” Fitch cited Athene’s very strong earnings and financial performance as key drivers behind the upgrade, as well as Athene’s maintenance of strong balance sheet fundamentals. The rating agency noted, “Athene’s improved business profile has been driven by expansion into adjacent product lines, expanded distribution and increased business volumes as the company has maintained its strong presence in the fixed annuity market and increasing its presence in the pension risk transfer business.”

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