AM Best has removed from under review with positive implications and upgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to 'a' from 'bbb-' of
Additionally, AM Best has removed from under review with positive implications and upgraded certain Long-Term Issue Credit Ratings (Long-Term IRs) of NGHC. At the same time, AM Best has removed from under review with positive implications and upgraded the Financial Strength Rating (FSR) to A+ (Superior) from A- (Excellent) and the Long-Term ICRs to 'aa ' from 'a-' of
Concurrently, AM Best has affirmed the Long-Term IRs of two tranches of senior unsecured notes of NGHC. The outlook of these ratings is stable.
(See below for a detailed list of the companies and ratings).
The ratings reflect the group's balance sheet strength, which AM Best assesses as strongest, as well as its strong operating performance, favorable business profile and very strong enterprise risk management. The rating actions consider
The FSR has been removed from under review with positive implications and upgraded to A+ (Superior) from A- (Excellent) and the Long-Term ICRs to 'aa' from 'a-', with stable outlooks assigned for the following insurance subsidiaries of
Agent
Direct
The following Long-Term IRs have been affirmed with stable outlooks:
'a' on
'a' on
The following Long-Term IRs have been removed from under review with positive implications, upgraded and assigned stable outlooks:
to 'a-' from 'bb+' on
to 'bbb+' from 'bb' on
The following indicative Long-Term IRs for securities available under the shelf registration have been withdrawn:
'bbb-' on senior unsecured debt
'bb+' on subordinated debt
'bb' on preferred stock
'bb' on junior subordinated
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.
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