Fitch lifts Aegon to stable

Fitch Ratings said it revised the outlook on Aegon NV and on its primary North American life insurance subsidiaries to stable from negative.

Fitch also said it affirmed Aegon’s long-term issuer default rating at A and its senior unsecured debt rating at A-.

The outlook revision reflects an expectation that Aegon will maintain financial leverage and fixed-charge coverage at less than 30% and more than 5x, respectively through stronger underlying earnings and de-leveraging, Fitch said.

The agency said it expects net income to remain volatile as it can be negatively impacted by losses on economic hedging.

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