Fitch Ratings has upgraded the insurer financial strength ratingsof Thrivent Financial for Lutheransand its subsidiary, Thrivent LifeInsurance Co., to AA+ from AA.
Fitch also upgraded the long-term issuer default rating of ThriventFinancial to AA from AA- and affirmed its short-term issuer default rating at F1+.
The outlook is stable.
Fitch said the upgrade reflects the group's extremely stronglevel of capitalization, enhanced by material growth in surplus in recent years.Fitch also said it believes that management is committed to maintaining statutorycapital levels in excess of ratings guidelines. The upgrade also considers the companies'consistently solid profitability, favorable position within the Lutheran marketand growing franchise within the broader Christian community, the rating agencysaid.