VOYA has a diverse product offering and flexible strategic goals supported by very strong capital adequacy. We are affirming our issuer credit and financial strength ratings on VOYA and its core operating subsidiaries. The stable outlook reflects our expectation that VOYA will maintain its market position, balance-sheet strength, capital adequacy, and liquidity position. On July 31, 2019, S&P Global Ratings affirmed its 'BBB+' long-term issuer credit rating on Voya Financial Inc. and its 'A+' long-term issuer credit and financial strength ratings on Voya Retirement Insurance and Annuity Co., Midwestern United Life Insurance Co., Reliastar Life Insurance Co., Reliastar Life Insurance Co. of New York, and Security Life of Denver Insurance Co. (collectively VOYA). The outlook is stable. This rating action
