Source - SMW
Aviva has welcomed an upgrade in its rating by Moody's by one notch to Aa3.

Over the past five years, Aviva has significantly improved the strength and resilience of its capital position and simplified its business structure to focus on markets where it has the strongest franchises and sustainable earnings and cash-flow.

Chief financial officer Tom Stoddard said: 'This upgrade by Moody's to Aa3 is an important milestone for Aviva. 

'It recognises the significant progress in recent years to strengthen Aviva's balance sheet, which resulted in an increase to our Solvency II capital surplus to £11.4 billion at 30 June 2017. 

'We remain focused on extending our track record of growth in operating EPS and the significant levels of surplus cash building at group centre provide scope for us to continue to reduce debt and invest in growing our businesses.'