Press Release - SEPTEMBER 12, 2017
A.M. Best Withdraws Credit Ratings of United Security Assurance Company of Pennsylvania
| ||Jeffrey Lane|
Senior Financial Analyst
+1 908 439 2200, ext. 5567
+1 908 439 2200, ext. 5797
Manager, Public Relations
+1 908 439 2200, ext. 5159
Director, Public Relations
+1 908 439 2200, ext. 5644
FOR IMMEDIATE RELEASE
OLDWICK - SEPTEMBER 12, 2017
A.M. Best has withdrawn the Financial Strength Rating of C- (Weak) and the Long-Term Issuer Credit Rating of “cc”, each with a negative outlook, of United Security Assurance Company of Pennsylvania (United Security) (Souderton, PA).
The rating withdrawals reflect the insufficient information being provided to A.M. Best to support an ongoing credit opinion of the company consistent with A.M. Best’s rating criteria policies and procedures. A.M. Best’s policy is for a final rating to be completed along with a rating withdrawal. However, a final rating was not able to be completed due to lack of financial data and other information necessary to support the formation of a current credit rating opinion.
This press release relates to Credit Ratings 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 see A.M. Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.
A.M. Best is the world’s oldest and most authoritative insurance rating and information source.