American Capital Assurance downgraded to CCC+ from A- by AM Best
Florida insurer American Capital Assurance (AmCap) has been downgraded from A- to CCC+ by AM Best and stripped of its Demotech rating altogether, the rating agencies said in statements on Friday.
AM Best described AmCap’s balance sheet strength as “very weak” and operating performance and enterprise risk management as “marginal”, putting the insurer’s rating under negative review.
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