New York, April 23, 2013 -- Moody's Investors Service has upgraded the senior debt ratings of American Financial Group, Inc. (NYSE: AFG) to Baa1 from Baa2, the insurance financial strength (IFS) ratings of AFG's property and casualty (P&C) operations led by Great American Insurance Company (GAIC) to A1 from A2, and the IFS rating of Great American Life Insurance Company (GALIC), to A2 from A3. Moody's also affirmed the A3 IFS rating of AFG's Republic Indemnity Insurance Company. The outlook on all of the ratings was changed to stable from positive.

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