AM Best Comments on Credit Ratings of First Indemnity of America Insurance Company Following Sale Announcement
AM Best has commented that the Credit Ratings (ratings) of
FIA has a Financial Strength Rating of A- (Excellent) and a Long-Term Issuer Credit Rating of “a-” (Excellent). The outlooks of these ratings are stable.
The transaction is not anticipated to have a material impact on the current rating-related assessments of FIA. AM Best will continue to monitor developments as the transaction works through the regulatory approval process. Under the sale agreement, senior management will stay in place at FIA and continue to maintain its operating fundamentals as a monoline surety writer.
This press release relates to Credit Ratings that have been published on AM 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 AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
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