Voya Financial has completed its sale of two operating subsidiaries to Resolution. We are lowering the ratings on Security Life of Denver and Midwestern United Life Insurance to 'A-' from 'A+' because these entities no longer benefit from Voya ownership. The ratings remain on CreditWatch negative, reflecting uncertainty of the creditworthiness of Resolution. We will resolve the CreditWatch listing after we analyze business and financial risk, strategy, and potential group support under new ownership. On Jan. 8, 2021, S&P Global Ratings lowered its long-term counterparty credit and financial strength ratings on Security Life of Denver Insurance Co. (SLD) and Midwestern United Life Insurance Co. (MULIC) to 'A-' from 'A+'. The ratings remain on CreditWatch with Negative implications, where they were
