- Moody's said that the downgrade of ALIC's ratings was based on the weakening of the company's intrinsic credit profile, as a result of continuing asset deterioration and rising losses since January 2008.
- The downgrade was also based on Moody's expectation that ALIC will continue to place greater emphasis on asset returns and on capital optimization, resulting in higher levels of investment risk, weaker capital adequacy, and greater earnings volatility. This rating action moves ALIC's IFS rating closer to its stand-alone IFS rating (i.e., excluding any benefit from potential support from its affiliates), which is in the single-A range.

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