rating agency News

A.M. Best Makes Senior Management Changes, Restructures Organization

A.M. Best announced that Roger Sellek will step down as CEO of its Europe, Middle East and Africa (EMEA) and Asia Pacific (AP) regions at the end of March. As part of its succession planning process, A.M. Best has also …

S&P Ratings Reacts to AIG’s Pending Q4 Reserve Charge

American International Group’s anticipated reserve charge has attracted the attention of Standard & Poor’s, which has downgraded certain ratings in light of the disclosure. S&P said it lowered AIG’s long-term counterparty credit and senior unsecured debt ratings to ‘BBB+’ from …

A.M. Best Revises Hartford Financial, P/C Units’ Outlook to Positive

Rating agency A.M. Best changed the outlook associated with the “A” financial strength rating of the members of the Hartford Insurance Pool to positive from stable Thursday, citing a reduced risk from variable annuity business to explain the change. Best …

S&P to Factor Country Risk into Insurance Ratings

Standard & Poor’s will change the way it assigns global ratings to insurers, in part to increase the consideration of country risk in the way a company is evaluated, the credit ratings agency said on Thursday. The changes will apply …

SEC Concedes Challenges in Probes of Rating Agencies

The U.S. Securities and Exchange Commission faces hurdles proving wrongdoing at credit-rating agencies, the agency’s enforcement chief said, pointing to the complexity of the cases and the industry’s strong legal defenses. SEC Enforcement Director Robert Khuzami’s comments to Reuters came …

Rating Agencies Win Dismissal of Ohio Funds Lawsuit

The three major credit-rating agencies won the dismissal of a lawsuit alleging that five Ohio pension funds lost hundreds of millions of dollars on risky mortgage debt because they relied on flawed ratings that made the debt appear safe. U.S. …

S&P Could Downgrade Bond Insurers

Standard & Poor’s could downgrade bond insurers by a full category or more if new ratings standards for the sector are implemented and the companies do not raise more capital, the agency said Monday. Bond insurers’ shares fell sharply, as …