CONTACTS:
FOR IMMEDIATE RELEASE
OLDWICK - JULY 01, 2015 02:37 PM (EDT)
A.M. Best has assigned a financial strength rating of B++ (Good) and an issuer credit rating of "bbb+" to Mountain States Commercial Insurance Company (MSCIC), following the state approval of a 100% quota share agreement between MSCIC and Mountain States Indemnity Company (MSIC). Both companies are wholly owned subsidiaries of Mountain States Mutual Casualty Company (MSMCC). The outlook assigned to the ratings is stable. All companies are domiciled in Albuquerque, NM.
The rating actions reflect that MSCIC was incorporated to provide additional tiering and pricing flexibility, the explicit support provided to MSCIC by MSIC via a 100% quota share agreement and the full integration into the group's operations and management. The ratings of MSMCC and MSIC remain unchanged.
This press release relates to rating(s) that have been published on A.M. 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 visit A.M. Best's Ratings & Criteria Center.
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.