TSC Ratings' Updates: Foster Wheeler

The following ratings changes were generated on Thursday, Oct. 24.

We've downgraded Aflac(AFL Quote), which, through its subsidiaries, engages in the marketing and sale of supplemental health and life insurance in the U.S. and Japan, from buy to hold. Strengths include its largely solid financial position with reasonable debt levels by most measures and notable return on equity. Weaknesses include a decline in the stock price during the past year, deteriorating net income and poor profit margins.

Aflac's debt-to-equity ratio is very low at 0.24 and is currently below that of the industry average, implying very successful management of debt levels. The return on equity has improved slightly when compared with the same quarter one year prior, exceeding the industry average and the S&P 500. ...