S&P Assigns Community Choice Michigan 'R' FSR.Business Editors NEW YORK--(BUSINESS WIRE)--July 30, 2003 (Standard & Poor's)--Standard & Poor's Ratings Services Ratings Service A company, such as Moody's or Standard & Poor's, that rates various debt and preferred stock issues for safety of payment of principal, interest, or dividends. said today that it assigned its 'R' financial strength rating to Community Choice Michigan (CCM CCM Contemporary Christian Music CCM Critical Care Medicine CCM County College of Morris (New Jersey) CCM Chama Cha Mapinduzi (political party, Tanzania) CCM CORBA Component Model ). "This rating action follows the announcement made by the State of Michigan Circuit Court for the 30th Judicial Circuit Ingham County approving an order for rehabilitation rehabilitation: see physical therapy. for the company on May 12, 2003," explained Standard & Poor's credit analyst Raymona Kimbrough. This action came after supervision of the company by the Office of Financial and Insurance Services. CCM began operation in 1996. It has about 71,000 members in 36 counties in out-state Michigan. The company provides health care coverage to those who have Medicaid or MIChild coverage. An insurer rated 'R' is under regulatory supervision owing to owing to prep. Because of; on account of: I couldn't attend, owing to illness. owing to prep → debido a, por causa de its financial condition. During the pendency Pend´en`cy n. 1. The quality or state of being pendent or suspended. 2. The quality or state of being undecided, or in continuance; suspense; as, the pendency of a suit s>. of the regulatory supervision, the regulators may have the power to favor one class of obligations over others or pa some obligations and not others. The rating does not apply to insurers subject only to nonfinancial actions such as market conduct violations. 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 Web site at www.standardandpoors.com; under Credit Ratings in the left navigation bar A set of buttons or graphic images typically in a row or column used as a central point that link you to major topic sections on a Web site. If the navigation bar is a single graphic image with multiple selections, it is known as an imagemap. See imagemap. , select Credit Ratings Actions. Copyright 2003, Standard & Poor's Ratings Services |
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