Following Liberty Mutual’s $6.1 billion acquisition of Safeco Corporation, A.M. Best has downgraded the issuer credit rating (ICR) of Safeco to align the ratings with Liberty Mutual.

The issuer credit rating of Safeco was lowered to “bbb” from “bbb-plus,” and the ICR of Safeco Insurance Companies and its members were lowered to “a” from “a-plus.” The outlook for all ratings is stable, Oldwick, N.J.-based Best said.

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