AM Best Affirms Credit Ratings of ACMAT Corporation and ACSTAR Insurance Company
19 Febrero 2020 - 8:35AM
Business Wire
AM Best has affirmed the Long-Term Issuer Credit Rating
(Long-Term ICR) of “bbb” of ACMAT Corporation (ACMAT) (Farmington,
CT) [OTC Market: ACMT]. Concurrently, AM Best has affirmed the
Financial Strength Rating (FSR) of A (Excellent) and the Long-Term
ICR of “a” of ACMAT’s wholly owned subsidiary, ACSTAR Insurance
Company (ACSTAR) (Chicago, IL). The outlook of these Credit Ratings
(ratings) remains stable.
The ratings reflect ACSTAR’s balance sheet strength, which AM
Best categorizes as very strong, as well as its strong operating
performance, limited business profile and appropriate enterprise
risk management.
The ratings consider ACSTAR’s strongest level of risk-adjusted
capitalization, as measured by Best's Capital Adequacy Ratio
(BCAR), management’s niche specialty orientation in the surety
sector and prudent underwriting discipline. Partially offsetting
these positive rating factors is a decrease in net premiums written
in recent years, which has led to diminished underwriting
results.
The stable outlooks reflect AM Best’s expectation that
risk-adjusted capitalization will remain supportive and that
operating results will remain profitable in the near-term.
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 media use of Best’s
Credit Ratings and AM Best press releases, please view Guide for
Media - Proper Use of Best’s Credit Ratings and AM Best Rating
Action Press Releases.
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 New York, London,
Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more
information, visit www.ambest.com.
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Jeffrey Stary Financial Analyst +1 908 439 2200, ext.
5689 jeffrey.starry@ambest.com
Raymond Thomson, CPCU, ARe, ARM Director +1 908
439 2200, ext. 5621 raymond.thomson@ambest.com
Christopher Sharkey Manager, Public Relations
+1 908 439 2200, ext. 5159
christopher.sharkey@ambest.com
Jim Peavy Director, Public Relations +1 908 439
2200, ext. 5644 james.peavy@ambest.com