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Article: A.M. Best Downgrades Ratings of GMAC Insurance Group and Its Members; Places Ratings Under Review with Developing Implications
- Article from:
- Wireless News
- Article date:
- June 16, 2009
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Wireless News
06-16-2009
A.M. Best Downgrades Ratings of GMAC Insurance Group and Its Members; Places Ratings Under Review with Developing Implications
Type: News
A.M. Best Co. has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and issuer credit ratings (ICR) to "bbb" from "a-" of the GMAC Insurance Group (GMACI) and its members, which are led by Motors Insurance Corp. (Southfield, MI).
All ratings have been placed under review with developing implications. (See below for a detailed listing of the companies and ratings.)
The downgrading of the ratings reflects A.M. Best's view of GMAC LLC's operating results, as well as A.M. Best's review of public ...