A.M. Best Affirms Ratings of State Auto Insurance Companies and State Auto Financial Corporation.OLDWICK, N.J. -- A.M. Best Co. has affirmed the financial strength rating (FSR (Free System Resource) In Windows 3.x, the amount of unused memory in various 64K blocks reserved for managing current applications. Every open window takes some space in this area. See Windows memory limitation. ) of A+ (Superior) and the issuer credit ratings (ICR (Intelligent Character Recognition or Image Character Recognition) The machine recognition of hand-printed characters as well as machine printing that is difficult to recognize. ) of "aa-" of State Auto Insurance Companies (State Auto) (Columbus, OH) and its members. A.M. Best has also affirmed the ICR of "a-" and debt rating of "a-" on the $100 million 6.25% senior unsecured notes issued by State Auto Financial Corporation (Columbus, OH) [NASDAQ NASDAQ in full National Association of Securities Dealers Automated Quotations U.S. market for over-the-counter securities. Established in 1971 by the National Association of Securities Dealers (NASD), NASDAQ is an automated quotation system that reports on : STFC STFC Swindon Town Football Club STFC Self Test Feature Check STFC Shrewsbury Town Football Club STFC Star Trek: First Contact STFC Saskatoon Track and Field Club (Saskatoon, SK, Canada) ]. The outlook for all ratings is stable. (See below for a detailed listing of the ratings.) The ratings reflect State Auto's strong capitalization, favorable earnings trend and excellent regional market franchise. These attributes reflect its long-standing regional market presence, well-established agency relationships, strong brand name recognition, diversified product offerings and adherence to sound underwriting fundamentals. Somewhat offsetting these positive rating factors include the group's exposure to localized storms and an earthquake stemming from the New Madrid New Madrid (mă`drĭd), city (2000 pop. 3,334), seat of New Madrid co., extreme SE Missouri, on Mississippi River at the sweeping New Madrid Bend; inc. 1808. fault in the Midwest, along with hurricane activity in the southeastern United States United States, officially United States of America, republic (2005 est. pop. 295,734,000), 3,539,227 sq mi (9,166,598 sq km), North America. The United States is the world's third largest country in population and the fourth largest country in area. . In addition, State Auto has debt servicing requirements due to the above mentioned debt issuance, which could put a strain on future earnings. However, State Auto has continued to emphasize disciplined underwriting, pricing and claims processes. As a result of this strategy coupled with generally stable market conditions, State Auto has reported favorable operating results in each of the past five years. The FSR of A+ (Superior) and the ICRs of "aa-" have been affirmed for State Auto Insurance Companies and its following members: * State Auto Florida Insurance Company * Farmers Casualty Insurance Company * Milbank Insurance Company * State Auto Property and Casualty Insurance Company * State Auto Insurance Company of Wisconsin * State Auto National Insurance Company * State Automobile Mutual Insurance Company * State Auto Insurance Company of Ohio * Meridian Citizens Mutual Insurance Company * Meridian Security Insurance Company The ICR of "a-" has been affirmed for State Auto Financial Corporation. The following debt rating has been affirmed: State Auto Financial Corporation-- -- "a-" on $100 million 6.25% senior unsecured notes, due 2013 For Best's Debt Ratings, all other Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services The examples and perspective in this article or section may not represent a worldwide view of the subject. Please [ improve this article] or discuss the issue on the talk page. industries, including the banking and insurance sectors. For more information, visit www.ambest.com. |
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