We have revised our view of management and governance to strong from satisfactory. We are affirming our ratings on Lincoln National Corp. and subsidiaries. The stable outlook reflects our expectation that the company will maintain its very strong competitive position and very strong financial risk profile. On Sept. 19, 2016, S&P Global Ratings affirmed its ratings on Lincoln National Corp. and its core subsidiaries. The outlook is stable. The rating reflects our view of Lincoln's very strong competitive position and very strong financial risk profile, anchored by very strong capital and earnings. Our view of Lincoln's competitive position reflects its leading market position in the U.S. life and variable annuity space as well as its top position in long-term care/life
