New York, December 19, 2014 -- Moody's Investors Service continues its review for upgrade of the credit ratings of Protective Life Corporation (Protective, senior debt at Baa2) that was first announced by Moody's on June 4 following the announcement by Dai-ichi Life Insurance Company (Dai-ichi, insurance financial strength (IFS) at A1, stable outlook) of its proposed acquisition of all the outstanding stock of Protective for $5.7 billion of cash in a transaction expected to close on or about February 1 2015, subject to regulatory and shareholder approvals. In addition, PLC Capital Trusts III, IV, V, VI, VII, and VIII, which are statutory business trusts established by the company solely for the purpose of raising financing for Protective, remain on review for upgrade (see list below).

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