OLDWICK, N.J.--(BUSINESS WIRE)--
A.M. Best Co. has affirmed the financial strength rating (FSR) of
C++ (Marginal) and issuer credit rating (ICR) of “bâ€of Battle Creek
Mutual Insurance Company (Battle Creek) (Battle Creek, NE). The
outlook for both ratings is negative.
Concurrently, A.M. Best has withdrawn the ratings and assigned a
category NR-4 to the FSR and an “nr†to the ICR. These rating actions
reflect Battle Creek’s decision to withdraw from A.M. Best’s interactive
rating process.
The ratings reflect Battle Creek’s unfavorable operating performance and
deteriorating level of surplus, which negatively impacted its
risk-adjusted capitalization.
Offsetting these negative rating factors is Battle Creek’s longstanding
local market presence and management’s strategies designed to improve
operating performance.
For Best’s Credit Ratings, an overview of the rating process and rating
methodologies, please visit www.ambest.com/ratings.
The principal methodologies used in determining these ratings, including
any additional methodologies and factors that may have been considered,
can be found at www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is a global full-service credit
rating organization dedicated to serving the financial and health care
service industries, including insurance companies, banks, hospitals and
health care system providers. For more information, visit www.ambest.com.
A.M. Best Co.
Analysts:
Adrienne Tortoriello,
908-439-2200, ext. 5088
adrienne.tortoriello@ambest.com
or
Rick
Decker, 908-439-2200, ext. 5423
rick.decker@ambest.com
or
Public
Relations:
Jim Peavy, 908-439-2200, ext. 5644
james.peavy@ambest.com
or
Rachelle
Morrow, 908-439-2200, ext. 5378
rachelle.morrow@ambest.com
Source: A.M. Best Co.
