Fitch Affirms Athene Ratings With Stable Outlook
Fitch Ratings has affirmed Athene Holding Ltd.’s ‘A-’ Long-Term Issuer Default Rating and the ‘A+’ Insurer Financial Strength rating of its insurance subsidiaries, with a Stable Outlook.
A statement from Fitch said, “Fitch Ratings has affirmed the ‘A-’ Long-Term Issuer Default Rating [IDR] assigned to Athene Holding Ltd. [Athene] and the ‘A+’ Insurer Financial Strength [IFS] rating assigned to Athene’s insurance operating subsidiaries. The Rating Outlook for Athene and its subsidiaries is Stable.
“The rating affirmations reflect Athene’s strong company profile, very strong financial performance, strong capitalization and strong asset/liability management. Somewhat offsetting these strengths are the company’s concentration in spread-based products and exposure to volatility in asset prices and movements in interest rates. The rating also continues to reflect the relationship between Athene and its owner, Apollo Global Management, Inc. [AGM], and Fitch’s view that it is broadly neutral from a credit perspective.”
