On April 3, 2006, Standard&Poor's Ratings Services raised its counterparty credit rating on Lincoln National Corp. (NYSE:LNC) to 'A+/A-1' from 'A-/A-2' and removed it from CreditWatch with positive implications. At the same time, Standard&Poor's raised its counterparty credit and financial strength ratings on Lincoln National Life Insurance Co. and Lincoln Life and Annuity Co. of New York (collectively referred to as Lincoln National) to 'AA' from 'AA-' and removed them from CreditWatch positive. In addition, Standard&Poor's lowered its counterparty credit rating on Jefferson-Pilot Corp. (NYSE:JP) to 'A+/A-1' from 'AA/A-1+' and removed it from CreditWatch negative. Standard&Poor's also lowered its counterparty credit and financial strength ratings on Jefferson-Pilot Life Insurance Co., Jefferson Pilot
