SEPTEMBER 09, 2014 08:51 AM (EDT)
A.M. Best Withdraws Ratings of RVOS Farm Mutual Insurance Group's Members
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FOR IMMEDIATE RELEASE
OLDWICK - SEPTEMBER 09, 2014 08:51 AM (EDT)
A.M. Best has withdrawn the financial strength rating (FSR) of C++ (Marginal) and the issuer credit ratings (ICR) of "b" of RVOS Farm Mutual Insurance Group's (RVOS Group) members, RVOS Farm Mutual Insurance Company and Priority One Insurance Company, due to management's request to no longer participate in A.M. Best's interactive rating process. All companies are domiciled in Temple, TX.
The FSR of RVOS Group was downgraded to C++ (Marginal) from B (Fair) and the ICRs to "b" from "bb" on September 4, 2014. The outlook for all ratings is negative. (See related release.)
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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