Atlantic Mutual Downgraded by A.M. Best
NU Online News Service, Oct. 7, 3 :54 p.m. EDT?A.M. Best Co. said it had downgraded the financial strength rating of The Atlantic Mutual Companies to "B-plus-plus" (Very Good) from "A-minus" (Excellent).
The Oldwick, N.J.-based rating agency, in addition to the financial strength downgrade, reduced the debt rating of Atlantic Mutual's existing $100 million 8.15 percent surplus notes due Feb. 2028 to "double-B-plus" from "triple-B."
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