Standard & Poor’s (S&P) withdrew its rating on Credit General Insurance Co. from “Bpi.” The rating action followed recent announcements that the Ohio Department of Insurance had suspended the company from writing new business and that Credit General had failed to file financial statements for the second quarter of 2000. The rating action also comes soon after S&P lowered Credit General’s FSR from “BBBpi” to “Bpi.” The company now shares the not-rated status of its wholly owned subsidiary, Credit General Indemnity Co.
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