On December 3, 2007
Standard & Poor’s Ratings Services revised the outlook to negative from stable on Switzerland-based Swiss Life/Schweizerische Lebensversicherungs- und Rentenanstalt (Swiss Life), related operating entities and the holding company Swiss Life Holding, following the announcement of Swiss Life’s takeover bid for AWD Holding AG. At the same time, Standard & Poor’s affirmed the ‘A-‘ long-term counterparty credit and insurer financial strength ratings on Swiss Life and related operating entities as well as the ‘BBB’ counterparty credit rating on Swiss Life Holding.










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