Fitch Ratings Upgrades Community Choice Michigan.CHICAGO -- Fitch Ratings Fitch Ratings An international rating agency for financial institutions, insurance companies, and corporate, sovereign, and municipal debt. Fitch Ratings has headquarters in New York and London and is wholly owned by FIMALAC of Paris. has upgraded the quantitative insurer financial strength rating on Community Choice Michigan to 'BBq' from 'D'. Community Choice Michigan is a nonprofit HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, organization domiciled in Michigan. This rating action reflects the company's improved financial profile after emerging from rehabilitation. 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. recently filed financial statements, Community Choice Michigan reported $76.8 million of premiums for the first nine months of 2005. Fitch's quantitative insurer financial strength ratings (Q-IFS ratings) are generated solely based on quantitative analysis Quantitative Analysis A security analysis that uses financial information derived from company annual reports and income statements to evaluate an investment decision. Notes: of publicly available financial statement data filed by the company on a quarterly basis with its state regulator. Fitch's rating committee reviews and approves all general assumptions used in the model and reviews the ratings of the individual companies generated by the model. The committee does not review or discuss qualitative information for individual companies, since that is outside the scope of the Q-IFS ratings methodology. For more information on Fitch's Q-IFS ratings, visit the Fitch web site, www.fitchratings.com. A special report 'HMO Quantitative Insurer Financial Strength Ratings' is available in the Criteria Reports section under 'Insurance' on the Fitch site. The following insurer financial strength has been upgraded by Fitch: Community Choice Michigan (NAIC NAIC See National Association of Investors Corporation (NAIC). Code 95562) -- Upgraded to 'BBq' from 'D'. Fitch's rating definitions and the terms of use Terms of Use are rules set up by the owner of an intellectual property or service to govern how they may be legally used. In many cases, terms of service are used as a contractual agreement between a company and users of a service they provide. of such ratings are available on the agency's public site, www.fitchratings.com. Published ratings, criteria, and methodologies are available from this site, at all times. Fitch's code of conduct, confidentiality, conflicts of interest, affiliate firewall, compliance, and other relevant policies and procedures Policies and Procedures are a set of documents that describe an organization's policies for operation and the procedures necessary to fulfill the policies. They are often initiated because of some external requirement, such as environmental compliance or other governmental are also available from the 'Code of Conduct' section of this site. The issuer did not participate in the rating process other than through the medium of its public disclosure. |
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