A.M. Best Removes From Under Review With Negative Implications and Downgrades Credit Ratings of Cooperativa de Seguros de Vida de Puerto Rico
The ratings reflect COSVI’s balance sheet strength, which
The negative outlook assigned to the Long-Term ICR reflects A.M. Best’s concerns that COSVI’s risk-adjusted capitalization could further weaken or operating performance could deteriorate.
The balance sheet strength assessment is derived from COSVI’s risk-adjusted capitalization, as measured by Best’s Capital Adequacy Ratio, which also is assessed at very weak.
Furthermore, COSVI at year-end 2017 would have been required to have an additional
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. For information on the proper media use of Best’s Credit Ratings and
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