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Article: S&P Lowers American Physicians Assurance Rtgs to 'A-'.
- Article from:
- Business Wire
- Article date:
- October 14, 2002
CopyrightCOPYRIGHT 2002 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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Business Editors
NEW YORK--(BUSINESS WIRE)--Standard & Poor's
Oct. 14, 2002-- Standard & Poor's Ratings Services said today that it lowered its counterparty credit and financial strength ratings on American Physicians Assurance Corp. (APA) to single-'A'-minus from single-'A' because of significant losses in the past 12 months.
Standard & Poor's also said that the outlook on APA is negative.
APA is a regional medical malpractice insurance and workers' compensation company and a subsidiary of American Physicians Capital Inc. (APCapital).
"The losses it has experienced in the past year stem from increased severity of ...