New York, January 09, 2014 -- Moody's Investors Service has confirmed the Baa1 insurance financial strength (IFS) ratings of Commonwealth Annuity and Life Insurance Company (CALIC) and First Allmerica Financial Life Insurance Company (FAFLIC) (together, Global Atlantic Life) following the closing of the acquisition by a subsidiary of its ultimate parent, Global Atlantic Financial Group's (Global Atlantic, GAFG, unrated) of Forethought Financial Group, Inc. (Forethought) on January 2, 2014. At the same time, Moody's has downgraded the senior debt rating of Forethought to Ba1 from Baa3 and the IFS rating of its life insurance operating subsidiary, Forethought Life Insurance Company (FLIC) to Baa1 from A3. The outlook on all of the ratings is stable. These rating actions conclude the review for downgrade of the Global Atlantic Life entities initiated on May 2, 2013 and the Forethought entities initiated on September 26, 2013.

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