AM Best has withdrawn the Financial Strength Rating (FSR) of A- (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) of 'a-' (Excellent) of
At the same time, AM Best has affirmed the FSR of A- (Excellent) and the Long-Term ICR of 'a-' (Excellent) of
The ratings reflect Agrinational's balance sheet strength, which AM Best assesses as strong, as well as its adequate operating performance, limited business profile and appropriate enterprise risk management.
The affirmation of the ratings reflects the strongest levels of risk-adjusted capitalization, as measured by Best's Capital Adequacy Ratio (BCAR), and takes into account elevated leverage metrics that expose Agrinational to volatility in times of stress. Agrinational sold its subsidiary,
The ratings also reflect rating enhancement provided by the company's ultimate parent,
AM Best remains the leading rating agency of alternative risk transfer entities, with more than 200 such vehicles rated in
This press release relates to Credit Ratings that have been published on AM Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best's Credit Ratings. For information on the proper use of Best's Credit Ratings, Best's Performance Assessments, Best's Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best's Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in
(C) 2022 Electronic News Publishing, source