A.M. Best believes PFG is well positioned at its current rating level in the near to medium term. Factors that could lead to negative future rating actions include a material decrease in PFG’s operating earnings as a result of a decline in its net cash flow and low interest rates and/or a material deterioration in its risk-adjusted capitalization driven by investment losses or the deployment of capital to support further acquisitions or share repurchase activity.
For a complete listing of Principal Financial Group, Inc. and its subsidiaries’ FSRs, ICRs and debt ratings, please visit www.ambest.com/press/120304principal.pdf.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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