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Standard & Poor's assigns Beneficial Life 2 A+ ratings

Salt Lake-based Beneficial Life Insurance Co. has been assigned two A-plus ratings by Standard & Poor's.

The ratings were for counterparty credit and financial strength, and S&P said the company's outlook is "stable."

"The ratings are based on the company's strong affinity relationships with its agents and policyholders, extremely strong capital and liquidity and stable operating earnings," noted Standard & Poor's credit analyst Robert Bowen. "These strengths are offset by above-industry-average exposure to interest rate risk because of a high concentration of collateralized obligations and a business mix shift toward deferred annuities."