A.M. Best Places Credit Ratings of Equitable Life & Casualty Insurance Company Under Review With Developing Implications

OLDWICK, N.J.--(BUSINESS WIRE)-- A.M. Best has placed under review with developing implications the Financial Strength Rating of B (Fair) and the Long-Term Issuer Credit Rating of “bb+” of Equitable Life & Casualty Insurance Company (Equitable Life & Casualty) (Salt Lake City, UT).

This rating action follows the approval by the Utah Department of Insurance of the sale of Equitable Life & Casualty to SILAC, LLC. A.M. Best expects to resolve the under review with developing implications status following discussions with the senior management team regarding Equitable Life & Casualty’s strategic and capital plans going forward.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings.

A.M. Best is the world’s oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.

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A.M. Best

Jeffrey Lane

Senior Financial Analyst

+1 908 439 2200, ext. 5567

jeffrey.lane@ambest.com

or

Sally Rosen

Director

+1 908 439 2200, ext. 5280

sally.rosen@ambest.com

or

Christopher Sharkey

Manager, Public Relations

+1 908 439 2200, ext. 5159

christopher.sharkey@ambest.com

or

Jim Peavy

Director, Public Relations

+1 908 439 2200, ext. 5644

james.peavy@ambest.com

Source: A.M. Best