Standard & Poor’s Ratings Services today said that Sun Life Financial Inc.’s amalgamation of Keyport Life Insurance Co. into Sun Life Assurance Co. of Canada (U.S.) would not affect the ratings or outlook on Sun Life U.S.

Previous to the amalgamation, the financial strength ratings on these two U.S. subsidiaries were the same. With this amalgamation, the ratings on Keyport have been withdrawn. The financial strength rating and outlook for Sun Life U.S. remains AA+/Negative/–.

S&P says the merger was completed to achieve operational, capital, regulatory, and financial reporting efficiencies in the U.S. and has no effect on the existing rights and benefits of policyholders or contract holders from either company.

Sun Life Financial acquired Keyport, a leading provider of fixed, variable, and indexed annuities, from Liberty Financial Co. Inc. in 2001.