Alfa Insurance Group Receives Top Standard & Poor's Ratings.MONTGOMERY, Ala ALA aminolevulinic acid. Ala alanine. ala (a´lah) pl. a´lae [L.] a winglike process. .--(BUSINESS WIRE)--July 23, 1999-- Alfa Corporation (Nasdaq/NM:ALFA) has announced that Standard & Poor's, one of the nation's leading independent financial rating services, has awarded the Alfa Insurance Group a financial strength and credit rating of `AA.' At the same time, Standard & Poor's affirmed af·firm v. af·firmed, af·firm·ing, af·firms v.tr. 1. To declare positively or firmly; maintain to be true. 2. To support or uphold the validity of; confirm. v.intr. its `A-1+' rating on Alfa Corporation's commercial paper. Alfa is a `Security Circle' insurer, which means that it underwent Standard & Poor's most comprehensive analysis and was assigned a rating in one of the top four categories for financial security. According to according to prep. 1. As stated or indicated by; on the authority of: according to historians. 2. In keeping with: according to instructions. 3. Standard & Poor's, Alfa's rating is the highest rating for financial strength of any Alabama 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. company. In making the announcement, Standard & Poor's noted that the ratings reflect the group's extremely strong capitalization capitalization n. 1) the act of counting anticipated earnings and expenses as capital assets (property, equipment, fixtures) for accounting purposes. 2) the amount of anticipated net earnings which hypothetically can be used for conversion into capital assets. , strong operating performance and liquidity, and its leading market position in its home state of Alabama. "We are very pleased that Standard & Poor's has recognized the Alfa Group Alfa Group Consortium is one of Russia's largest privately owned financial-industrial conglomerates, with interests in oil and gas, commodities trading, commercial and investment banking (Alfa Bank), insurance, retail trade and telecommunications. and Alfa Corporation with such excellent ratings," said Jerry A. Newby, President and Chief Executive Officer of Alfa Insurance Companies. "We are proud of the collective financial strength of the Alfa Insurance Group and the protection that provides our policyholders." Alfa Corporation is engaged in insurance and financial activities through its subsidiaries. The common stock of Alfa Corporation is traded on Nasdaq Stock Market's National Market under the symbol ALFA. Investors are cautioned that statements in this press release which relate to the future are, by their nature, uncertain and dependent upon numerous contingencies - including political, economic, regulatory, climatic, competitive, legal, and technological - any of which could cause actual results and events to differ materially from those indicated in such forward-looking statements forward-looking statement A projected financial statement based on management expectations. A forward-looking statement involves risks with regard to the accuracy of assumptions underlying the projections. . Additional information regarding these and other risk factors and uncertainties may be found in Alfa Corporation's filings with the Securities and Exchange Commission. |
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