Truist Financial 's ( TFC - Free Report ) recent decision to divest its remaining 80% stake in Truist Insurance Holdings ("TIH") has triggered reactions from two major credit rating agencies – Fitch Ratings and Moody's Investors Service. Earlier this week, the company announced stake sale to Stone Point Capital and Clayton Dubilier & Rice. Mubadala Investment Company and co-investors are also participating in the investment. Fitch Ratings took action by downgrading TFC's Long-Term Issuer Default Rating (IDR) to 'A' from 'A+' alongside lowering the Viability Rating (VR) to 'a' from 'a+'. The rating agency viewed this transaction as a near-term credit positive but acknowledged the constraints this narrower business mix places on Truist's business and earnings prospects. Meanwhile, Moody's placed Truist's long-term ratings on review for downgrade.