A.M. Best Affirms the Ratings of Euler Hermes American Credit Indemnity Company.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 rating (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 Euler Hermes American Credit Indemnity Company (Euler Hermes) (Owings Mills, MD.). The outlook for both ratings is stable. Euler Hermes is a wholly owned subsidiary Wholly Owned Subsidiary A subsidiary whose parent company owns 100% of its common stock. Notes: In other words, the parent company owns the company outright and there are no minority owners. of Euler Hermes ACI ACI American Concrete Institute ACI Arch Coal Inc ACI Airports Council International (formerly Airport Associations Coordinating Council) ACI Automobile Club d'Italia ACI American Competitiveness Initiative Holding (Wilmington, DE), which is a wholly owned subsidiary of Euler Hermes S.A. (Paris, France). Euler Hermes S.A., a subsidiary of Assurances Generales de France SA (AGF AGF Assurances Générales de France AGF Army Ground Forces AGF American Growth Fund (mutual fund) AGF American General Finance AGF Arbeitsgemeinschaft der Grossforschungseinrichtungen AGF Anatomic Gift Foundation AGF Assume Good Faith ) (Paris, France), is the global leader in accounts receivable insurance. Euler Hermes S.A. has a leading market position in over 40 countries with a global market share of 36%. Euler Hermes S.A. is a member of the Allianz Societas Europea (Allianz) (Germany) [NYSE NYSE See: New York Stock Exchange : AZ] by virtue of Allianz's 58.9% ownership of AGF. On January 18, 2007, Allianz announced its intention to acquire the remaining shares in AGF that it does not already own. The ratings reflect the solid capitalization, operating performance and significant market presence of Euler Hermes, as the number one trade accounts receivable insurer in the United States. The ratings also reflect the benefits derived from being a member of Allianz through reinsurance The contract made between an insurance company and a third party to protect the insurance company from losses. The contract provides for the third party to pay for the loss sustained by the insurance company when the company makes a payment on the original contract. protection and enhanced marketing capabilities. Euler Hermes' competitive advantages include its strong market presence, its vast proprietary debtor databases, conservative leverage, experience in the credit field and strong parental support. The rating outlook reflects A.M. Best's expectation that Euler Hermes will continue to generate strong earnings in the future. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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