NU Online News Service, June 7, 2:39 p.m. EDT
A.M. Best Co. downgraded Columbus, Ohio-based State Auto Insurance Cos.' financial-strength rating to A from A-plus due to the impact of property catastrophe losses on the insurer.
Oldwick, N.J.-based Best says State Auto has seen deterioration in underwriting and operating earnings in recent years due to the frequency and severity of cat losses.
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