OneAmerica has a strong competitive position and a leading market position in long-term care (LTC) combination products. We are affirming our ratings on OneAmerica and its operating subsidiaries. The stable outlook reflects our expectations that the company will maintain its capitalization and profitability in its core business segments. On Aug. 26, 2019, S&P Global Ratings affirmed its 'A-' long-term issuer credit rating on OneAmerica Financial Partners Inc. and its 'AA-' insurer financial strength ratings on OneAmerica's operating subsidiaries. The outlook is stable. The stable outlook on OneAmerica reflects our view that the company will maintain capitalization at least at the 'AA' level per our model while maintaining stable earnings in its core business segments. We may lower our ratings if:
