Best Says Vesta No Longer Secure
NU Online News Service, April 1, 3:02 p.m. EST?Vesta Insurance said yesterday that it might divest itself of someproperty-casualty subsidiaries after A.M. Best Co. announced it haddowngraded the ratings of Vesta p-c affiliates.
A.M. Best said it dropped the Birmingham, Ala. Group'ssubsidiaries rating from "B-plus" (very good) to "B" (fair). Itsaid the group's existing senior debt had been assigned a "b-''rating and its deferrable capital securities were rated "ccc."
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