The counterparty credit rating and financial strength rating (FSR) on Lyndon Property Insurance Co. were removed from CreditWatch, where they were placed by S&P on Oct. 22, 1999, subsequent to the announcement of Lyndon’s acquisition by Protective Life Corp. In addition, the ratings were raised from “A” to “AA.”
The rating action followed S&P’s review of Protective Life’s plans for Lyndon, which resulted in S&P’s view that Lyndon is strategically important to Protective Life.
Topics Property
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