NU Online News Service, April 4, 2005, 4:32 p.m. EDT
A rating agency is attributing its decision to downgrade a Hartford life insurer 1 notch in part to the insurer’s “modest overall earnings.”[@@]
Analysts in the Chicago office of Fitch Ratings are cutting long-term debt issuer rating for The Phoenix Companies Inc. to BBB plus, from A minus, and the insurer financial strength rating of the company’s main life insurance subsidiary to A plus, from AA minus.