Sun Life Financial Inc. and Affiliates: Rating Report

DBRS, Inc. (DBRS Morningstar) upgraded SLF’s Issuer Rating and Senior Unsecured Debentures rating to A (high) from “A,” its Subordinated Unsecured Debentures rating to “A” from A (low) and its Preferred Shares rating to Pfd-2 (high) from Pfd-2. DBRS Morningstar also upgraded Sun Life Assurance Financial Strength Rating and Issuer Rating to AA from AA (low) and its Subordinated Debt rating to AA (low) from A (high). At the same time, DBRS Morningstar upgraded Sun Life Capital Trust’s SLEECS Series B rating and Sun Life Capital Trust II’s SLEECS Series 2009-1 rating to A (high) from “A.” The trends on all ratings are Stable.