OREANDA-NEWS. A.M. Best has affirmed the financial strength rating of A++ (Superior) and the issuer credit ratings of “aaa” of New York Life Insurance Company and its wholly owned subsidiary, New York Life Insurance and Annuity Corporation (collectively referred to as New York Life). Additionally, A.M. Best has affirmed the issue ratings on the funding agreement-backed securities (FABS) programs, the outstanding notes issued thereunder and the issue ratings on the existing surplus notes of New York Life Insurance Company. The outlook for each rating is stable