Best’s News & Research Service - April 26, 2016 03:09 PM (EDT)
A.M. Best Withdraws Ratings of Philmont Insurance Company
- April 26, 2016 03:09 PM (EDT)
Oldwick //BestWire// - A.M. Best has affirmed the financial strength rating of B (Fair) and the issuer credit rating of “bb+” of Philmont Insurance Company (Philmont) (Burlington, VT). The outlook for each rating is stable.
Concurrently, A.M. Best has withdrawn the ratings in response to the company’s request to no longer participate in A.M. Best’s interactive rating process.
The affirmation considers the company’s critical role and favorable profile as part of the Toll Brothers, Inc. (Toll Brothers) [NYSE: TOL] organization, as well as its strong operating performance during the past five years, providing insurance coverage to various projects and subsidiaries of Toll Brothers for certain liability risks.
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