Standard & Poor’s has placed its ratings on Markel Corp. and related entities on CreditWatch with negative implications. These rating actions are based on Standard & Poor’s concerns about prospective earnings, capitalization and leverage at Markel Corp., the holding company.
The driver of these concerns is Markel international (formerly Terra Nove), which, through the third quarter of 2000, continued to operate below Standard & Poor’s expectations. Partially offsetting these concerns is the continuing strong performance of Markel North America, which continues to outperform its U.S. competitors. Standard & Poor’s will have discussions with Markel management in the near future to resolve the ratings’ CreditWatch status and to address its plans to improve earnings and capitalization in 2001.
Was this article valuable?
Here are more articles you may enjoy.
In Florida Court, Sackler Family Member Admits Felony Tied to Her Opioid Addiction 
Hedge Funds Make Their Move as Litigation Finance Assets Slump 
No, Florida Lawmakers Did Not Repeal the No-Fault Auto Insurance Law 
Progressive Insurance Helps First-Time Homebuyers With Down Payments 
