|End-of-day quote - 06/18|
Legend : AM Best Maintains Under Review With Developing Implications Status for Credit Ratings of Hyundai Insurance (China) Co., Ltd
|03/16/2020 | 05:41am|
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 categorizes 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
HIC's very strong balance sheet strength is underpinned by its enlarged capital base and strengthened risk-adjusted capitalization due to the capital injections. Further, AM Best views that the strategic importance of HIC to HMF has diminished significantly in tandem with the change in HIC's shareholding structure. HIC's ratings will remain under review while AM Best continues to hold discussions with the company's shareholders and management team to assess the full rating impact.
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 specializing in the insurance industry. Headquartered in
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