Equitable Life’s credit slips down junk bond slope

UK INSURANCE

LONDON – The credit status of troubled UK mutual life assurer Equitable Life fell further into sub-investment, or so-called junk bond, territory in June.

Meanwhile, UK regulators said it was possible that the Financial Service Authority’s inquiry into Equitable’s misfortunes could be published in July. The report by the FSA, Britain’s principal financial watchdog, will focus on the agency’s performance as Equitable’s regulator, a role it assumed in January 1999.

Credit rating agency Stan