A.M. Best Affirms Ratings of ACMAT Corporation and ACSTAR Insurance Company

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 the 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 approach and experience in managing through market cycles.

These positive rating factors are offset by ACSTAR’s limited product diversification, stockholder dividends to service the debt at ACMAT and the macroeconomic effects on ACSTAR’s premium revenue and cash flow.

ACSTAR is a provider of surety bonds for general building, specialty trade, environmental remediation and asbestos abatement contractors, as well as for lead abatement contractors and solid waste disposal contractors. ACMAT owns and renovates commercial office buildings. It also provides financial and insurance services.

The principal methodology used in determining these ratings is Best’s Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best’s rating process and highlights the different rating criteria employed. Additional key criteria utilized include: “Risk Management and the Rating Process for Insurance Companies”; “Understanding BCAR for Property/Casualty Insurers”; and “A.M. Best’s Ratings & the Treatment of Debt.” Methodologies can be found at www.ambest.com/ratings/methodology.

Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

ACMAT (PK) (USOTC:ACMT)
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から 10 2024 まで 11 2024