Standard & Poor’s removed American Financial Group from CreditWatch, but lowered the company’s outlook to “negative,” saying improved earnings and capital adequacy would be needed for the outlook to be returned to stable.
S&P did not lower American Financial’s debt ratings, stating that although the company’s consolidated capital is diminished it remains strong.
American Financial’s operating performance has been sluggish for the past two years, according to S&P, but improvement in 2002 and 2003 is expected as the company “takes advantage of better market conditions and realizes the positive effect on earnings from previously filed rate changes.”
Was this article valuable?
Here are more articles you may enjoy.
Florida Agency Owner and Unlicensed Agent Charged in Fake Certificates Scheme 
Florida AG Sues Climate Modeler First Street Over Home Risk Scores 
Senator Grassley Adds to Fight for Federal TPLF Disclosure 
Florida Reforms Cut Property Premiums but Data Show Multifamily Liability Rates Up From This Issue
