Fitch affirms Minnesota Life

Fitch Ratings said it affirmed Minnesota Life Insurance Co.'s issuer default rating at A+ and $120 million of Rule 144A 8.25% surplus notes due 2025 at A. The outlook is stable.

The affirmation reflects Minnesota Life's strong balance sheet fundamentals and conservative risk profile, the agency said.

In Fitch's view, these positives are partially offset by the company's moderately weak earnings relative to similarly rated peers.

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