A.M. Best Affirms Ratings of ACMAT Corporation and ACSTAR Insurance Company
2010年1月22日 - 11:47PM
ビジネスワイヤ(英語)
A.M. Best Co. has affirmed the issuer credit rating (ICR)
of “bbb+” of ACMAT Corporation (ACMAT) (New Britain, CT)
(Pink Sheets: ACMTA). A.M. Best also has affirmed the financial
strength rating of A (Excellent) and ICR of “a+” of ACMAT’s wholly
owned subsidiary, ACSTAR Insurance Company (ACSTAR)
(Chicago, IL). The outlook for all ratings is stable.
The rating affirmations reflect ACSTAR’s exceptionally strong
risk-adjusted capitalization, historically strong operating
performance, geographic diversification, effective risk management
and management’s experience in managing through market cycles.
These positive rating factors are offset by ACSTAR’s limited
product diversification, yearly stockholder dividends to service
the modest debt at ACMAT and the recent deterioration in premium
levels given ACSTAR’s correlation to construction market
activity.
The outlook reflects A.M. Best’s expectation for the
continuation of a prudent business strategy and strong
risk-adjusted capitalization. ACSTAR is a provider of surety bonds,
primarily for general building and specialty trades.
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.
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