Moody's Lowers Atlantic Mutual Ratings
NU Online News Service, Oct. 29, 9:57 a.m. EST?Moody's Investors Service has lowered financial strength and surplus notes ratings of the Atlantic Mutual Companies, concluding its ratings review of the New York-based insurer from last month.
The ratings agency said the downgrade involves Atlantic Mutual's insurance financial strength rating, which was lowered to "Baa3″ from "Baa1." Also affected by the downgrade is $100 million of 8.15 percent surplus notes due February 2028, which was lowered to "Ba3″ from "Ba1." Moody's noted the company now has a "developing" outlook status.
Want to continue reading?
Become a Free PropertyCasualty360 Digital Reader
Your access to unlimited PropertyCasualty360 content isn’t changing.
Once you are an ALM digital member, you’ll receive:
- All PropertyCasualty360.com news coverage, best practices, and in-depth analysis.
- Educational webcasts, resources from industry leaders, and informative newsletters.
- Other award-winning websites including BenefitsPRO.com and ThinkAdvisor.com.
Already have an account? Sign In
© 2024 ALM Global, LLC, All Rights Reserved. Request academic re-use from www.copyright.com. All other uses, submit a request to [email protected]. For more information visit Asset & Logo Licensing.
