S&P Downgrades Liberty Mutual
NU Online News Service, May 5, 11:36 a.m. EDT?Standard & Poor's Ratings Services, citing concerns about what it said was a deteriorating capital position and a possible reserve shortfall, downgraded the Liberty Mutual Insurance Company counterparty credit and financial strength ratings to "A" from "A-Plus."
The ratings cut also includes Liberty Mutual's surplus notes, which were lowered to "Triple-B-Plus" from "A-Minus". Liberty Mutual has been removed from the CreditWatch status, where it was placed on April 4, and the outlook was put at "Negative".
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