A.M. Best Maintains Under Review Status of Rating For Prudential Property and Casualty Group.Business Editors OLDWICK, N.J.--(BUSINESS WIRE)--May 23, 2003 A.M. Best Co. has placed the financial strength rating of A- (Excellent) of the Prudential Prudential is the name of two different companies and buildings named after them: Companies:
A situation that occurs when one company owns a minority interest (less than 50%) in another company. Also refers to companies that are related to each other in some way. Notes: An affiliated company is sometimes referred to as a subsidiary. under review but revised the implications to "developing" from "negative". The change in implication reflects the May 22, 2003 announcement of the signing of a definitive agreement between Liberty Mutual Insurance Company, an affiliate of Liberty Mutual Insurance Companies (Liberty) (Boston Boston, town, England Boston, town (1991 pop. 26,495), E central England, on the Witham River. Boston's fame as a port dates from the 13th cent., when it was a Hanseatic port trading wool and wine. Having recovered from a decline in the 18th and 19th cent. ) and Prudential Financial Inc. (Newark Newark, cities, United States Newark. 1 City (1990 pop. 37,861), Alameda co., W Calif., on the east side of San Francisco Bay; inc. 1955. , NJ), for the sale of Prudential Property and Casualty Holdings, Inc. (Newark, NJ). The developing implications reflect the anticipated capital support and financial flexibility of the Liberty Mutual Insurance Companies. The definitive agreement, which is subject to regulatory approval, is expected to be completed in the fourth quarter of 2003. The rating will remain under review until regulatory approval is received. The PruPac affiliate company, Merastar Corporation, is unaffected by this announcement and will be rated separately. Following the aforementioned a·fore·men·tioned adj. Mentioned previously. n. The one or ones mentioned previously. aforementioned Adjective mentioned before Adj. 1. regulatory approval and further discussions with management, A.M. Best Co. will update the financial strength rating of the PruPac Group. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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