Ratings On Japan-Based NN Life Insurance Placed On CreditWatch With Negative Implications

We placed our ratings on Netherlands-based NN Group on CreditWatch with negative implications on Oct. 7, after the group announced its plan to acquire Delta Lloyd. Given that we could downgrade NN Group by two notches in the worst-case scenario, we are also placing our financial strength and long-term counterparty credit ratings on the group's Japan-based subsidiary, NN Life Japan, on CreditWatch with negative implications. We expect to resolve or update the CreditWatch placement on NN Life Japan once we resolve or update the CreditWatch placement on NN Group. TOKYO (S&P Global Ratings) Oct. 12, 2016--S&P Global Ratings today said that it has placed its 'A-' financial strength and long-term counterparty credit ratings on Japan-based NN Life Insurance Co. Ltd.

...+ We placed our ratings on Netherlands-based NN Group on CreditWatch with negative implications on Oct. 7, after the group announced its plan to acquire Delta Lloyd. + Given that we could downgrade NN Group by two notches in the worst-case scenario, we are also placing our financial strength and long-term counterparty credit ratings on the group's Japan-based subsidiary, NN Life Japan, on CreditWatch with negative implications. + We expect to resolve or update the CreditWatch placement on NN Life Japan once we resolve or update the CreditWatch placement on NN Group. TOKYO (S&P Global Ratings) Oct. 12, 2016--S&P Global Ratings today said that it has placed its 'A-' financial strength and long-term counterparty credit ratings on Japan-based NN Life Insurance Co. Ltd. (NN Life Japan) on CreditWatch with negative implications. Our CreditWatch placement of NN Life Japan follows our Oct. 7 placement of the ratings on its Netherlands-based parent, NN Group N.V., on CreditWatch negative (see "NN...

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