MetLife Downgraded by Moody’s on ‘Elevated’ Investment Losses

MetLife Inc., the largest U.S. life insurer, had its credit rating cut by Moody’s Investors Service after three straight quarterly losses... “Elevated levels of investment losses” will weigh on the New York-based insurer, Moody’s said in a statement yesterday as it cut the senior debt rating one level to A3, the fourth lowest of 10 investment grade ratings, from A2.

MetLife is bracing for losses on its $50 billion in commercial real estate loans and commercial mortgage-backed securities. The insurer, which used derivatives to maintain profits last year as markets slumped, has posted $2.57 billion in losses this year as stocks and bonds recover...

Bloomberg: MetLife Downgraded by Moody’s on ‘Elevated’ Investment Losses