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S&P places Standard Life Aberdeen on CreditWatch negative after Phoenix deal


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S&P places Standard Life Aberdeen on CreditWatch negative after Phoenix deal

S&P Global Ratings on Feb. 26 placed the A long-term issuer credit ratings of Standard Life Aberdeen Plc and the A+ long-term issuer credit and financial strength ratings of Standard Life Assurance Ltd. on CreditWatch with negative implications.

The negative CreditWatch placement is based on the possibility that the agency may revise its views of the group's business and financial profiles as it assesses the impact of the sale of Standard Life Assurance to Phoenix Group Holdings for approximately £3.24 billion and its potential effect on the ongoing integration of Aberdeen Asset Management.

S&P noted that it plans to discuss the strategic and capital management plans for Standard Life Assurance within Phoenix Group and update its view of the Standard Life Assurance's stand-alone business and financial risk profile characteristics.

The resolution of the CreditWatch may take more than 90 days, as the sale of Standard Life Assurance is expected to complete during the third quarter.

S&P Global Ratings and S&P Global Market Intelligence are owned by S&P Global Inc.