Standard & Poor’s Ratings Services said today that it revised its outlook on Birmingham, Ala.-based personal lines writer Infinity Property and Casualty Corp. and Infinity’s insurance subsidiaries to stable from negative based on Infinity’s improved financial flexibility at the holding-company level following the issuance of its syndicated $200 million seven-year senior secured term loan.
Standard & Poor’s also said that it affirmed its “BBB” counterparty credit rating on Infinity and its “A” counterparty credit and financial strength ratings on Infinity’s insurance subsidiaries.
Infinity plans to maintain an existing quota-share reinsurance arrangement on its physical damage business through 2004, which is providing an additional cushion for the group’s operating subsidiaries to maintain prudent levels of capital over the next couple of years.
Topics Trends Property Casualty
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