Bond Ratings and Designations

Moody's Investor Service- Aa2, negative outlook

National Association of Insurance Commissioners - "1" Designation

Standard & Poor's - AA, Stable


Bond Rating History - Standard and Poor's

Date Action Rating Outlook
5/24/2012
Outlook Change
AA
Stable
3/10/2010
Outlook Change
AA
Negative
5/14/2007
Rating Upgrade
AA
Stable
5/31/2005
Rating Downgrade
AA-
Stable
5/27/2004
Rating Downgrade
AA
Stable
11/13/2002
Outlook Change
AA+
Negative
3/29/1994
Outlook Change
AA+
Stable
2/10/1992
Outlook Change
AA+
Negative
6/06/1991
Rating Downgrade
AA+
Stable
10/22/1978
Initial Rating
AAA
N/A

Bond Rating History - Moody's Investor Service

Date Action Rating Outlook
6/4/2014
Outlook Change
Aa2
Stable
5/18/2012
Outlook Change
Aa2
Negative
4/19/2010
Recalibration
Aa2
Stable
5/24/2005
Rating Downgrade
Aa3
Stable
6/04/1998
Rating Upgrade
Aa2
N/A
5/12/1997
Rating Downgrade
Aa3
N/A
8/24/1993
Rating Upgrade
Aa
N/A
2/26/1982
Rating Downgrade
Aa1
N/A
4/19/1974
Rating Downgrade
Aa
N/A
1970
N/A
Aaa
N/A