Aviva rocked by S&P downgrade over strategy fears
Aviva has been hit with a rating downgrade by Standard & Poor's (S&P) amid concerns its strategic plan will create "significant risks and costs".
S&P lowered the rating for Aviva Plc by one notch to A- from A and the agency also opted to cut the financial strength ratings on all of the group's core operating subsidiaries to A+ from AA-.
Commenting on the downgrades, S&P's credit analyst Simon Ashworth said: "The ratings actions reflect our view of the significant risk and costs associated with Aviva delivering on its strategic plan.
"These risks and costs could be elevated given the current state of macroeconomic uncertainty."
He
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