Fitch Affirms Rating of Phoenix; Outlook still Negative

Fitch Ratings Wednesday affirmed all ratings assigned to The Phoenix Companies, Inc. (Phoenix Companies) and its wholly owned life insurance subsidiaries, Phoenix Life Insurance Company (Phoenix Life), and AGL Life Assurance Co. The Rating Outlook on all Phoenix Companies-related ratings remains Negative. A complete list of ratings is provided below. The Negative Rating Outlook reflects Fitch's concerns about the company's ability to improve its earning profile in line with Fitch's expectations for the rating category. In addition, Fitch recognizes that Phoenix has continuing exposure ...