S&P Affirms Then Withdraws Various PI Ratings.
NEW YORK--(BUSINESS WIRE)--March 7, 2003
Standard & Poor's Ratings Services said today that it withdrew its public information (pi) counterparty credit and financial strength ratings on various insurance companies because of a decision to refocus analytical research resources.
"Specifically, in those insurance sectors where Standard & Poor's already provides significant coverage through its full, interactive rating process, Standard & Poor's will withdraw many--or, in some cases, all--of its pi ratings," explained credit analyst Tom Taillon.
In accordance with Standard & Poor's surveillance standards, the ratings (see list) were affirmed before their withdrawal based on the most recently available public information.
Complete ratings information is available to subscribers of RatingsDirect, Standard & Poor's Web-based credit analysis system, at www.ratingsdirect.com. All ratings affected by this rating action can be found on Standard & Poor's public Web site at www.standardandpoors.com; under Fixed Income in the left navigation bar, select Credit Ratings Actions.
Ratings List: Ratings Affirmed Then Withdrawn Accredited Surety & Casualty Co. Inc. Brotherhood Mutual Insurance Co. Centennial Casualty Co. Century-National Insurance Co. Co-Operative Insurance Cos. Harco National Insurance Co. Louisiana Medical Mutual Insurance Co. Majestic Insurance Co. Minnesota Lawyers Mutual Insurance Co. New York Schools Insurance Reciprocal Ophthalmic Mutual Insurance Co. Risk Retention Group RAM Mutual Insurance Co. State-Wide Insurance Co. Texas Lawyers Insurance Exchange Transguard Insurance Co. of America Inc. Tri-State Consumer Insurance Co. Wisconsin County Mutual Insurance Corp. Wolverine Mutual Insurance Co. Counterparty credit rating BBBpi Financial strength rating BBBpi Chautauqua Patrons Insurance Association Country-Wide Insurance Co. Eveready Insurance Co. Florida Hospitality Mutual Insurance Co. Lexington National Insurance Corp. Rockford Mutual Insurance Co. Safe Auto Insurance Co. Sterling Insurance Co. Wisconsin American Mutual Insurance Co. Counterparty credit rating BBpi Financial strength rating BBpi Nodak Mutual Insurance Co. Pacific Pioneer Insurance Co. Counterparty credit rating Bpi Financial strength rating Bpi