Lincoln National Corp. today announced a plan to raise approximately $2 billion in capital. We expect that Lincoln will contribute about $1 billion of the total proceeds to its insurance operations, which will bolster its capital position and bring our view of capital adequacy in line with what we expect for the current rating level. As a result, we are revising our outlook on Lincoln National Corp. and its subsidiaries to stable from negative. We also lowered our rating on Lincoln's preferred stock one notch to 'BBB-' to differentiate it from the junior subordinated debt. On June 15, 2009, Standard&Poor's Ratings Services revised its outlook on Lincoln National Corp. (LNC) and LNC's insurance operations (Lincoln) to stable from
