Fitch puts Aviva's UK businesses on negative outlook
Fitch Ratings has downgraded Aviva's long-term Issuer Default Rating to 'A' from 'A+', due to what it described as capital depletion as a result of steep declines in equity and credit markets. Its core non-US operating subsidiaries' Insurer Financial Strength Ratings were downgraded to 'AA-' (AA minus) from 'AA', and the IDR of Aviva International Insurance to 'A+' from 'AA-' (AA minus). The outlook on all of these ratings is negative, Fitch added.
Aviva's senior unsecured debt was downgraded to 'A' from 'A+' and its subordinated debt was downgraded to 'BBB+' from 'A-' (A minus).
The rating agency addedd: "On 4 February 2009, Aviva announced an
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