Standard & Poor's Corp. last week downgraded all industrial revenue issues guaranteed by Phoenix Mutual Life Insurance Co. and Lincoln National Corp., affecting $458 million in municipal debt.

In all, 58 deals were taken down one notch. The 35 issues guaranteed by Phoenix Mutual were downgraded, to AA from AA-plus, while the 23 Lincoln National revenue deals were revised to A-plus from AA-minus.

Limited Time Offer

Save $400 off your subscription. Special offer ends April 30, 2017.

14-Day Free Trial

No credit card required. Complete access to articles, breaking news and industry data.