The rating actions today are taken as part of normal credit surveillance and are not triggered by any newly disclosed information regarding the planned acquisition of Genworth Financial by China Oceanwide, or the likelihood of regulatory approval We are downgrading the life insurance group entities and removing them from CreditWatch Negative. We are revising the CreditWatch status to developing from negative for the holding company and GMICO. On Sept. 26, 2018, S&P Global Ratings lowered its long-term issuer credit ratings on Genworth Financial Inc.'s life insurance companies, Genworth Life Insurance Co. (GLIC), Genworth Life Insurance Co. of New York (GLICNY), and Genworth Life and Annuity Insurance Co. (GLAIC), to 'B-' from 'B+'. The outlook on all three entities is stable.
