Standard & Poor's (S&P) has downgraded Aviva because of "significant risks and costs" associated with the UK-based insurance giant's delivery of its strategic plan.
The insurer's holding company long-term counterparty credit rating was cut by a notch from A to A-, while the credit and insurer financial strength ratings of Aviva's core operating subsidiaries were downgraded from A+ to A.
As previously reported, the company lost its CEO Andrew Moss in May when he resigned after a shareholder revolt on...
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