Our outlook on U.S.-based insurance group Aflac was revised down to stable from positive following a revision to our outlook on Japan. We consider Aflac Japan to be a core subsidiary of Aflac and our ratings on the insurer are in line with those we have assigned other core subsidiaries of Aflac. We are revising to stable from positive our outlook on the ratings on Aflac Japan. We are affirming our financial strength and issuer credit ratings on the insurer. TOKYO (S&P Global Ratings) June 10, 2020--S&P Global Ratings today said that it has revised to stable from positive its outlook on the financial strength and long-term issuer credit ratings on Aflac Life Insurance Japan Ltd. (Aflac Japan). At the
