ASLAC

AcronymDefinition
ASLACAmerican Skandia Life Assurance Corporation (est. 1988; Connecticut)
ASLACAdvanced Subscriber Line Audio Processing Interface
ASLACArmy Strategic Logistics Activity Charleston (South Carolina)
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DCR believes that ASLAC has a low-risk profile relative to a typical life insurance company.
DCR anticipates that ASLAC will continue to face such working capital shortages for the foreseeable future.
The ratings on ASLAC were placed on CreditWatch positive because upon completion of the acquisition, Standard & Poor's expects to raise its ratings on ASLAC to 'A' and assign a positive outlook," noted Standard & Poor's credit analyst Robert A.
The ratings on ASLAC were placed on CreditWatch positive because on completion of the acquisition Standard & Poor's expects to raise its ratings on ASLAC to 'A' with a positive outlook to reflect the benefits ASLAC is expected to receive as a strategically important unit of Prudential's life insurance group, which is led by Prudential Insurance Co.
Best expects the divestment of ASLAC, which in recent years negatively affected the parent's consolidated earnings, will represent a significant risk-based capital relief.
Best expects Skandia to face some restructuring challenges associated with the divestment of ASLAC.
ASLAC is a leading seller of variable annuities and is expected to move Prudential into a top ten position in the variable annuity marketplace.
Best believes that the proposed transaction to acquire ASLAC should provide a number of strategic and financial benefits to Prudential over time.
Fitch's rating on ASLAC continues to reflect the company's reputation as a product innovator and high-level service provider to its financial planner-dominated distribution.
However, Fitch recognizes the fact that ASLAC achieved sales growth of 19% and 62%, in 2000 and 1999 respectively, while the market grew by 6% and 21%.
Fitch went on to say that its strong rating for ASLAC "continues to reflect the company's reputation as a product innovator and a high-level service provider to its financial planner-dominated distribution" network.
Fitch believes that recent equity market performance could adversely impact an investor's appetite for M&E securitizations and raise the cost, or limit the amount, of such financing for ASLAC.