Ratings

Rating agencies routinely assess our financial strength and stability. We're proud to be recognized for our commitment and financial stewardship with these strong ratings. As of October 30, 2019, these ratings represent the most recent ratings assigned by the respective agencies.

Financial strength ratings

The Lincoln National Life Insurance Company (Fort Wayne, IN) And

Lincoln Life & Annuity Company of New York (Syracuse, NY)

Rating agency	Rating	Outlook	Last Update
A.M. Best	A+ 2nd highest of 16	Stable	2/14/2019
Fitch	A+ 5th highest of 19	Positive	11/15/2018
Moody's	A1 5th highest of 21	Stable	1/19/2018
Standard & Poor's	AA- 4th highest of 21	Stable	10/21/2019

First-Penn Pacific Life Insurance Company (Fort Wayne, IN)

Rating Agency	Rating	Outlook	Last Update
A.M. Best	A 3rd highest of 16	Stable	2/14/2019
Fitch	A+ 5th highest of 19	Positive	11/15/2018
Moody's	A1 5th highest of 21	Stable	1/19/2018
Standard & Poor's	A- 7th highest of 21	Stable	10/21/2019

Lincoln Life Assurance Company of Boston (Dover, NH)
(Formerly Liberty Life assurance company of Boston)

Rating Agency

Rating

Outlook

Last Update

A.M. Best

3rd highest of 16

Stable

2/14/2019

Standard & Poor's

AA-

4th highest of 21

Stable

10/21/2019

Other ratings

Lincoln National Corporation ratings (Radnor, PA)

Rating Agency	Outlook	Last Update	Commercial paper rating	Long-term debt rating
A.M. Best	Stable	2/14/2019	AMB-1 2nd highest of 6	a- 7th highest of 22
Fitch	Positive	11/15/2018	F2 3rd highest of 8	BBB+ 8th highest of 21
Moody's	Stable	1/19/2018	P-2 2nd highest of 4	Baa1 8th highest of 21
Standard & Poor's	Stable	10/21/2019	A-2 3rd highest of 7	A- 7th highest of 22

Each report provides its own perspective. Examining each agency’s ratings gives the clearest view of financial strength. Reports are available from each rating agency.

The financial strength ratings do not imply approval of any Lincoln product and does not refer to the investment performance of the product, including underlying investment options. Such ratings apply only to the company's financial strength or claims-paying ability. They do not apply to safety or investment performance of any variable product and its underlying investment options.

These tables were compiled using information available to the public and represent the most recently affirmed ratings by each rating service. The ratings are not a recommendation to buy, sell or hold our securities. The ratings may be subject to withdrawal or revision at any time by the assigning rating organization and each rating should be evaluated independently of any other rating.

The mention of any specific securities or life insurance product on this site, in any Webcast or press release, is presented for informational purposes only. This site and the information contained herein does not constitute an offer or a solicitation of an offer for the purchase of any securities or insurance product. An offer for securities can be made by prospectus only. Depending on the securities or insurance product mentioned, it may be issued by The Lincoln National Life Insurance Company, Fort Wayne, IN; Lincoln Life & Annuity Company of New York, Syracuse, NY; or other LFG^® companies and offered through broker dealers with effective selling agreements. All companies mentioned herein are affiliated companies of Lincoln Financial Group. Lincoln Financial Group is the marketing name for Lincoln National Corporation and its affiliates. Each affiliate is separately responsible for its own financial and contractual obligations.