New York, July 10, 2013 -- Moody's Investors Service continues the review for downgrade of the Aa3 insurance financial strength (IFS) and A2 (hyb) surplus note ratings of MONY Life Insurance Company (MONY) as well as the Aa3 IFS rating of its wholly-owned subsidiary, MONY Life Insurance Company of America (MLOA), as the transaction that prompted the reviews has not yet closed. The ratings were placed on review on April 11, 2013 following the announcement that an operating subsidiary of Protective Life Corporation (Protective; NYSE: PL; senior debt Baa2, stable) will acquire MONY and coinsure certain inforce business of MLOA, each excepting certain negligible business lines, for approximately $1.06 billion, in a transaction due to close on or about October 1, 2013, subject to regulatory approvals. MONY is an indirect wholly-owned subsidiary of AXA Financial, Inc. (AXF; A2 senior debt, negative).

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