NEW YORK (S&P Global Ratings) June 13, 2022--S&P Global Ratings today said Voya Financial Inc.'s (BBB+/Stable/A-2) announced definitive agreement with Allianz Global Investors (AGI) to integrate certain U.S. investment teams and assets under management (about $120 billion) into Voya Investment Management (Voya IM) will grow Voya's scale in investment management. Voya and AGI expect to establish a long-term distribution partnership wherein AGI will distribute Voya investment strategies outside the U.S. and Canada. We view the transaction as neutral to our assessments of Voya's business and financial risks. Voya IM specifically could benefit from AGI's global footprint because the transaction will enable Voya to offer its U.S. asset-based investment strategies to a larger client base. Voya also is not expected to
