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Article: A.M. Best Withdraws Ratings of Battle Creek Mutual Insurance Company.
- Article from:
- Business Wire
- Article date:
- October 7, 2009
CopyrightCOPYRIGHT 2009 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR) of C++ (Marginal) and issuer credit rating (ICR) of "b"of Battle Creek Mutual Insurance Company (Battle Creek) (Battle Creek, NE). The outlook for both ratings is negative.
Concurrently, A.M. Best has withdrawn the ratings and assigned a category NR-4 to the FSR and an "nr" to the ICR. These rating actions reflect Battle Creek's decision to withdraw from A.M. Best's interactive rating process.
The ratings reflect Battle Creek's unfavorable operating performance and deteriorating level of surplus, which negatively impacted its risk-adjusted capitalization.
Offsetting ...