AM Best Upgrades Credit Ratings of First Acceptance Corporation and Its Subsidiaries
Share: AM Best has upgraded the Financial Strength Rating (FSR) to B (Fair) from B- (Fair) and the Long-Term Issuer Credit Ratings (Long-Term ICR) to "bb" from "bb-" of the subsidiaries of First Acceptance Corporation (collectively referred to as First Acceptance) (Delaware) (OTCQX:FACO). (See below for a detailed list of companies). Concurrently, AM Best has upgraded the Long-Term ICR to "b-" from "ccc+" of First Acceptance Corporation. The outlook of these Credit Ratings (ratings) is stable. The ratings reflect First Acceptance's balance sheet strength, which AM Best categorizes as adequate...
Source: benzinga.com