Moody’s ups Standard Life to stable

Moody's Investors Service said it affirmed the debt ratings of Standard Life plc (long term issuer rating Baa1) and the A1 insurance financial strength rating of Standard Life Assurance Ltd.

The outlooks on these entities were revised to stable from negative.

Moody’s said the action follows the Feb. 27 announcement of an all-share merger between Standard Life and Aberdeen Asset Management plc, subject to shareholders' and regulatory approvals. Under the terms of the agreement, Standard Life existing shareholders would own two-thirds of the combined entity, with Aberdeen shareholders holding the other third.

The two companies expect to complete the merger in the third quarter.

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