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FOR IMMEDIATE RELEASE
OLDWICK - JUNE 03, 2014 11:58 AM (EDT)
A.M. Best has revised the outlook to stable from negative and affirmed the financial strength rating of A- (Excellent) and issuer credit rating of "a-" of American Surety Company (ASC) (Indianapolis, IN).
The stable outlook reflects ASC's improved operating earnings reported in 2013 and excellent liquidity position. The company's operating results are trending upward as ASC has weathered the recession well with further improvement in earnings expected in the medium term.
While ASC is well positioned at its current rating level, negative rating actions could occur if earnings decline and/or capitalization levels materially deteriorate.
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.
A.M. Best Company is the world's oldest and most authoritative insurance rating and information source.