Fitch Ratings has affirmed Voya Financial Inc.'s long-term issuer default rating at BBB+.

The agency also affirmed the insurer financial strength ratings at A of the company's subsidiaries Voya Retirement Insurance & Annuity Co., Voya Insurance and Annuity Co., ReliaStar Life Insurance Co., ReliaStar Life Insurance Co. of New York and Security Life of Denver Insurance Co.

Additionally, the long-term issuer default rating of Equitable of Iowa Cos. Inc. was affirmed at BBB+.

The outlook is stable.

Fitch said the affirmation reflects Voya Financial's excellent balance sheet fundamentals and strong business profile, reflecting good business diversification and operating scale. The ratings also consider the company's strong operating performance within its core business segments.