Fitch Upgrades Voya Holdings Inc. Debt; Outlook Stable

CHICAGO--()--Fitch Ratings has upgraded the ratings on Voya Holdings Inc.'s (Voya Holdings) senior unsecured debt to 'A+' from 'A'. These notes are guaranteed by ING Group and their rating is therefore based on ING Group's 'A+' long-term Issuer Default Rating (IDR).

KEY RATING DRIVERS

On April 14, 2016 Fitch upgraded the long-term IDR of ING Group to 'A+' from 'A.' The Outlook is Stable. See <a href="https://www.fitchratings.com/site/fitch-home/pressrelease?id=1002508">'Fitch Upgrades ING Bank and ING Group to 'A+'; Outlook Stable'</a> for additional details.

RATING SENSITIVITIES

The rating of the Voya Holdings notes is directly linked to the credit quality of ING Group, the guarantee provider. A change in Fitch's assessment of the credit quality of ING Group would automatically result in a change of the rating on the Voya Holdings notes. Any change in Fitch's view on the contract of guarantee, or deterioration in the credit quality of the counterparties may result in a downgrade of the notes.

FULL LIST OF RATING ACTIONS

Fitch has upgraded the following ratings:

Voya Holdings Inc.

--7.25% senior notes due Aug. 15, 2023 to 'A+' from 'A';

--7.63% senior notes due Aug. 15, 2026 to 'A+' from 'A';

--6.97% senior notes due Aug. 15, 2036 to 'A+' from 'A'.

Additional information is available on www.fitchratings.com

Applicable Criteria

Insurance Rating Methodology (pub. 16 Sep 2015)

https://www.fitchratings.com/creditdesk/reports/report_frame.cfm?rpt_id=871172

Additional Disclosures

Dodd-Frank Rating Information Disclosure Form

https://www.fitchratings.com/creditdesk/press_releases/content/ridf_frame.cfm?pr_id=1002565

Solicitation Status

https://www.fitchratings.com/gws/en/disclosure/solicitation?pr_id=1002565

Endorsement Policy

https://www.fitchratings.com/jsp/creditdesk/PolicyRegulation.faces?context=2&detail=31

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Contacts

Fitch Ratings, Inc.
Tana M. Higman
Director
+1-312-368-3122
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst
Douglas L. Meyer, CFA
Managing Director
+1-312-368-2061
or
Committee Chairperson
Douglas M. Pawlowski, CFA
Senior Director
+1-312-368-2054
or
Media Relations
Hannah James, + 1-646-582-4947
hannah.james@fitchratings.com

Contacts

Fitch Ratings, Inc.
Tana M. Higman
Director
+1-312-368-3122
Fitch Ratings, Inc.
70 W. Madison Street
Chicago, IL 60602
or
Secondary Analyst
Douglas L. Meyer, CFA
Managing Director
+1-312-368-2061
or
Committee Chairperson
Douglas M. Pawlowski, CFA
Senior Director
+1-312-368-2054
or
Media Relations
Hannah James, + 1-646-582-4947
hannah.james@fitchratings.com