MINNEAPOLIS - Fitch Ratings has affirmed Thrivent Financial for Lutherans AA (Very Strong) rating, the third-highest of Fitch's 19 categories, and given the organization a stable outlook.
Fitch cited Thrivent Financial's strong capitalization, high quality investment portfolio, consistent profitability, and favorable market position within the Lutheran market as part of the basis for the affirmation. The stable outlook was driven by the organization's strong capital base and the expectation of Thrivent Financial's solid operating performance, supported by conservative investment and product offerings. These ratings reflect Thrivent Financials' overall financial strength and claims-paying ability, but do not apply to the investment performance of investment products.
"Our mission is to help our members be wise with money and inspire them to live generously," said Randy Boushek, senior vice president and chief financial officer for Thrivent Financial for Lutherans. "Ratings from agencies such as Fitch are an affirmation of our strength, stability and the steadfast commitment to our members."
Thrivent Financial is represented in the Iron, Florence and Dickinson county area by the Great Lakes Group, which includes James Quayle in Iron River, Jason Anderson in Iron Mountain, 906- Mark DeGrave in Ironwood, and Marty Kelto in Ishpeming.
Thrivent Financial for Lutherans is a not-for-profit, Fortune 500 financial services membership organization helping approximately 2.5 million members achieve financial security and give back to their communities.
As a not-for-profit organization, Thrivent Financial creates and supports national outreach programs and activities that help congregations, schools, charitable organizations and individuals in need.