MARCH 07, 2023 04:15 PM (EST)
AM Best Withdraws Credit Rating of State Auto Financial Corporation
| Raymond Thomson, CPCU, ARe, ARM Associate Director +1 908 439 2200, ext. 5621 raymond.thomson@ambest.com Michael Lagomarsino, CFA, FRM Senior Director +1 908 439 2200, ext. 5810 michael.lagomarsino@ambest.com | Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com Al Slavin Senior Public Relations Specialist +1 908 439 2200, ext. 5098 al.slavin@ambest.com |
FOR IMMEDIATE RELEASE
OLDWICK - MARCH 07, 2023 04:15 PM (EST)
AM Best has affirmed the Long-Term Issuer Credit Rating of “bbb” (Good) of State Auto Financial Corporation (State Auto) (Columbus, OH). The outlook of this Credit Rating (rating) is stable. AM Best has withdrawn the rating as the company has requested to no longer participate in AM Best’s interactive rating process.
The ratings affirmation reflects State Auto’s status as a downstream holding company in the Liberty Mutual hierarchy, though currently there is no debt maintained at this entity.
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 use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City.