|End-of-day quote - 11/25|
Legend : AM Best Maintains Under Review With Developing Implications Status for Credit Ratings of Hyundai Insurance (China) Co., Ltd
|09/28/2020 | 06:54am|
AM Best has maintained the under review with developing implications status for the Financial Strength Rating of B++ (Good) and the Long-Term Issuer Credit Rating of 'bbb' of
The Credit Ratings (ratings) reflect HIC's balance sheet strength, which AM Best categorises as very strong, as well as its adequate operating performance, limited business profile and marginal enterprise risk management.
These ratings were placed under review with developing implications on
As the new board of directors appointment has been delayed by COVID-19, HIC's ratings will remain under review until AM Best concludes its discussions with the company's shareholders and new management team. The extended under review status reflects the uncertainty over HIC's credit profile and how future business plans could impact HIC.
Ratings are communicated to rated entities prior to publication. Unless stated otherwise, the ratings were not amended subsequent to that communication.
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 media use of Best's Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best's Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global credit rating agency, news publisher and data analytics provider specialising in the insurance industry. Headquartered in
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