PLC Capital Trust IV -- Moody's affirms Protective's debt ratings; stable outlook

New York, October 23, 2015 -- Moody's Investors Service has affirmed the debt ratings of Protective Life Corporation (Protective, senior debt at Baa1/stable) following the announcement by Protective's parent, Dai-ichi Life Insurance Company, Limited (Dai-ichi Life, insurance financial strength (IFS) at A1, stable outlook), that its board of directors adopted a reorganization plan to shift to a holding company structure in October 2016. In addition, PLC Capital Trusts III, IV, VI, VII, and VIII, which are statutory business trusts established by Protective solely for the purpose of raising financing for Protective were also affirmed (see complete rating list below). The outlook on all the Protective ratings remains stable. The insurance operating subsidiaries of Protective, including Protective Life Insurance Company, continue to be rated A2 for IFS with a stable outlook.

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