(The following statement was released by the rating agency)
Oct 11 - Rating ActionOn Sept. 21, 2012, Standard & Poor's Ratings Services raised its counterpartycredit and financial strength ratings on AAA Life Insurance Co. to 'BBBpi'from 'BBpi'.
The upgrade reflects the company's steady growth in total adjusted capitalfrom 2007 through 2011. The ratings on AAA Life reflect the company'soperating performance, which has weakened during the past five years. Weconsider AAA Life's strong capital adequacy to be a company strength.
AAA Life is a Michigan-domiciled life and accident and health-insurancecompany licensed to do business in 49 states and the District of Columbia. Thecompany writes individual life and annuity products, as well as group life andaccident and health products for members of the automobile clubs affiliatedwith the American Automobile Association. AAA Life is owned by ACLIAcquisition Co., a subsidiary of a group of AAA clubs. We rate AAA LifeInsurance on a stand-alone basis.
Related Criteria And ResearchRatings Bearing A "pi" Subscript: Methodology And Assumptions, Feb. 9, 2011Ratings ListUpgraded To FromAAA Life Insurance Co.Counterparty Credit RatingFinancial Strength RatingBBBpi BBpi
This unsolicited rating(s) was initiated by Standard & Poor's. It may be basedsolely on publicly available information and may or may not involve theparticipation of the issuer. Standard & Poor's has used information fromsources believed to be reliable based on standards established in our CreditRatings Information and Data Policy but does not guarantee the accuracy,adequacy, or completeness of any information used.
Complete ratings information is available to subscribers of RatingsDirect onthe Global Credit Portal at
. All ratings affectedby this rating action can be found on Standard & Poor's public Web site at. Use the Ratings search box located in the leftcolumn.(New York Ratings Team)