Best’s News & Research Service - February 20, 2014 04:22 PM (EST)
A.M. Best Places Ratings of Zale Indemnity Company and Zale Life Insurance Company Under Review With Developing Implications
Oldwick //BestWire// - A.M. Best has placed under review with developing implications the financial strength ratings of B++ (Good) and the issuer credit ratings of "bbb+" of Zale Indemnity Company (ZIC) (Irving, TX) and Zale Life Insurance Company (Zale Life) (Phoenix, AZ). The under review with developing implications status follows the recent announcement that Zale Corporation (Zale), the ultimate parent of ZIC and Zale Life, has entered into an agreement with Signet Jewelers Limited (Signet) to acquire all of the issued and outstanding stock of Zale. Additionally, the under review status reflects the uncertainty of the role of Zale's insurance operations within the new organization. The ratings will remain under review until A.M. Best concludes its discussions with management regarding Signet's plans for Zale's insurance operations and assesses the new ultimate parent.
The methodology used in determining these ratings is Best's Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best's rating process and contains the different rating criteria employed in the rating process. Best's Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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