Following the purchase of Express Scripts Holding Co by Cigna, the S&P Ratings Agency have lowered the Credit Rating of Cigna Corporation and therefore that of OnePath Life.
The rating has changed from A+ (Strong) to A (Strong).
OnePath Life (NZ) Limited has an A (Strong) current insurer financial strength rating under the Insurance (Prudential Supervision) Act 2010 from Standard & Poor's (Australia) Pty Limited.
A summary of Standard & Poor's rating scale is:
AAA Extremely Strong
AA Very Strong
CCC Very Weak
CC Extremely Weak
SD or D Selective default or default
R Regulatory Action
NR Not rated
Ratings from "AA" to "CCC" may be modified by the addition of a plus or minus sign to show relative standing within the major rating categories.
The full rating scale is available from Standard and Poor's at www.standardandpoors.com