A.M. Best Places Ratings of Republic Companies Under Review With Developing Implications.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating of A- (Excellent) and 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 "a-" of Republic Companies Group (Republic) (Dallas, TX) and its property/casualty insurance operating companies operating company A business that engages in transactions with outsiders. under review with developing implications. A.M. Best has also placed the ICR of "bbb-" for Republic's parent, Republic Companies Group, Inc. (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 : RUTX) (Dallas, TX), under review with developing implications. (See below for a detailed list of the ratings.) These rating actions follow the announcement that Republic's parent has entered into a definitive merger agreement with a subsidiary of Delek Capital Ltd. (Delek Capital). Delek Capital is a subsidiary of Delek Group Delek Group is one of the largest Israeli companies. Delek Group is involved in the energy and infrastructure, real estate, insurance and financial services and automotive sectors. Ltd., a conglomerate domiciled dom·i·cile n. 1. A residence; a home. 2. One's legal residence. v. dom·i·ciled, dom·i·cil·ing, dom·i·ciles v.tr. 1. and publicly-traded in Israel with interests in energy, infrastructure, communications, real estate, 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. , insurance and automotive businesses. A.M. Best anticipates minimal near-term impact operationally to Republic as existing senior management will continue in their current capacity. However, additional due diligence Research; analysis; your homework. This term has caught on in all industries, because it sounds so "wired." Who would want to do analysis or research when they can do due diligence. See wired. regarding the long-term strategic implications of this transaction, potential growth initiatives, the impact on Republic's statutory capital and the ultimate capital structure of its new intermediate parent is required. A.M. Best plans to meet with Republic's and Delek Capital's management in the near term and will conduct additional due diligence regarding this transaction. The ratings will remain under review pending the close of the transaction, which is expected in fourth quarter 2006 pending regulatory and shareholder approvals, as well as A.M. Best's meeting with management. The 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- (Excellent) and ICRs of "a-" have been placed under review with developing implications for the Republic Companies Group and its following property/casualty affiliates: --Republic Fire & Casualty Insurance Company --Republic Lloyds --Republic Underwriters Insurance Company --Republic-Vanguard Insurance Company --Southern County Mutual Insurance Company --Southern Insurance Company --Southern Underwriters Insurance Company --Southern Vanguard Insurance Company The ICR of "bbb-" has been placed under review with developing implications for Republic Companies Group, Inc. For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. For current Best's Ratings, independent data and analysis on more than 3,000 individual property/casualty companies and A.M. Best groups, please visit www.ambest.com/pc. 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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