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Fitch Downgrades Ratings Of Lincoln National

 

Monday, Mar 09,2009, 12:19:35 AM   Click:

Copyright 2009 Inc.All rights reserved Marketwatch.com [Logo Publication]
MarketWatch

3 March 2009 Tuesday 1:34 PM EST

LENGTH: 133 words


TITLE: decreases Fitch rating Lincoln National

Signature: Wallace Witkowski

SAN FRANCISCO (MarketWatch) - Fitch Ratings has downgraded the notes of Lincoln National Corp. (LNC) and its insurance subsidiaries due to the exposure of society to the global financial crisis. Lincoln's cuts Fitch issuer default rating to A from A +. The rating outlook is negative. "[Lincoln's] income has decreased significantly in 2008 compared to previous years, mainly because of large losses and impairments of structured securities, corporate bonds and preferred stocks held in general accounts of the assurance of operating companies, "Fitch said in a statement. Shares of Lincoln fell from 18.6% to $ 6.28 in recent trading.

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