downgrade News

Moody’s Cuts Ratings of 15 Global Banks

Ratings agency Moody’s Investors Service downgraded 15 of the world’s biggest banks on Thursday, lowering credit ratings by one to three notches to reflect the risk of losses they face from volatile capital markets activities; however, some banks criticized the …

Best Downgrades Brit Insurance Ltd. Ratings; Keeps on Review/Negative

A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating (FSR) to ‘B++’ (Good) from ‘A-’ (Excellent) and the issuer credit rating (ICR) to “bbb+” from “a-” of UK-based Brit Insurance Limited (BIL), and has kept the …

Ratings of Dallas National Insurance Downgraded, Under Review

A.M. Best Co. has downgraded the financial strength rating to B-(Fair) from B (Fair) and issuer credit rating to “bb-” from “bb” of Dallas National Insurance Co. (Dallas National) in Dallas, Texas. Both ratings have been placed under review with …

A.M. Best Downgrades Ratings of Gramercy Insurance Co.

A.M. Best Co. announced it has downgraded the financial strength rating to C++ (Marginal) from B (Fair) and issuer credit rating to “b” from “bb” of Gramercy Insurance Co. (GIC) in Dallas, Texas. The outlook for both ratings is negative. …

Best Downgrades Interstate Auto’s Ratings to ‘C+’; Outlook Negative

A.M. Best Co. has downgraded the financial strength rating to ‘C+’ (Marginal) from ‘C++’ (Marginal) and issuer credit rating to “b-” from “b” of Baltimore-based Interstate Auto Insurance Company, Inc., and has assigned a negative outlook to both ratings. The …

Spanish Economy in ‘Huge Crisis’ after Sovereign Debt Downgrade

Spain’s sickly economy faces a “crisis of huge proportions”, a minister said on Friday, as unemployment hit its highest level in two decades and Standard and Poor’s weighed in with a two-notch downgrade of the government’s debt. Spain’s unemployment rate …

S&P Lowers India’s Rating Outlook to Negative; Investment Rating in Peril

Standard & Poor’s cut India’s credit rating outlook on Wednesday to negative from stable, reflecting the toll that hefty fiscal and current account deficits and political paralysis are exacting on Asia’s third-largest economy. The negative outlook jeopardizes India’s long-term rating …

Best Downgrades Brit Insurance Ratings; Placed on Review/Negative

A.M. Best Europe – Rating Services Limited has downgraded the financial strength rating to ‘A-’ (Excellent) from ‘A’ (Excellent) and the issuer credit rating (ICR) to “a-” from “a”  of UK-based Brit Insurance Limited (BIL), and has placed the ratings …

Best Places PartnerRe and Operating Subs Ratings on Review/Negative

A.M. Best Co. has placed under review with negative implications the financial strength rating (FSR) of ‘A+’ (Superior) and issuer credit ratings (ICR) of “aa-” of Bermuda-based Partner Reinsurance Company Ltd. and its affiliates. Best also placed under review with …

Oklahoma’s GHS Property and Casualty Insurance Co. Ratings Downgraded

A.M. Best Co. has downgraded the financial strength rating to B++ (Good) from A- (Excellent) and issuer credit rating to “bbb+” from “a-” of GHS Property and Casualty Insurance Co. (GHS), located in Oklahoma City. Best said he rating downgrades …