CONTACTS:
FOR IMMEDIATE RELEASE
OLDWICK, N.J. - JULY 16, 2009 12:00 AM (EDT)
A.M. Best Co. has placed the financial strength rating (FSR) of B++ (Good) and issuer credit rating (ICR) of "bbb" of Capacity Insurance Company (CIC) (Sunrise, FL) under review with negative implications.
CIC's ratings were placed under review following its acquisition by Focus Holdings, LLC (FHLLC) (Sunrise, FL), which reflects the uncertainty associated with potential future growth.
The ratings will remain under review pending A.M. Best receiving closing documents and its further discussions with the management of FHLCC.
For Best's Credit Ratings, an overview of the rating process and rating methodologies, please visit Best's Ratings & Analysis.
The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at Best's Credit Rating Methodology.
Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers.