AAA for New York Life Insurance Co. and New York Life Insurance & Annuity Corp.

Standard & Poor's (NYSE:MHP) Ratings Services on Thursday raised its credit and financial strength ratings for New York Life Insurance Co. and New York Life Insurance & Annuity Corp.
The credit rating agency said the upgrade reflects the companies' top position in the market for life insurance, high earnings and measured risk management.
S&P raised its counterparty credit and financial strength ratings for both companies to 'AAA' from 'AA+.' Companies rated 'AAA' have the highest levels of reliability and stability. The outlook for the insurance companies is 'stable,' according to S&P.
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