S&P Cuts Atlantic Mutual Ratings
NU Online News Service, June 26, 10:09 a.m. EDT, New York?Standard & Poor's Ratings Services has downgraded the credit rating for Atlantic Mutual Companies and its subsidiaries to "Triple-B" from "Triple-B-Plus", citing the company's "weak underwriting performance."
The counterparty risk of default and financial strength assessments for a number of Atlantic Mutual units?including Atlantic Mutual Insurance, Centennial Insurance and Atlantic Specialty Insurance?will be affected by the New York-based S&P's downgrade. The outlook on all these companies is negative, S&P said.
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