AM Best Downgrades Issuer Credit Rating of United Security Assurance Company of Pennsylvania and Revises Outlooks to Negative
OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has downgraded the Long-Term Issuer Credit Rating (Long-Term ICR) to “cc” (Very Weak) from “ccc- “(Weak) and affirmed the Financial Strength Rating (FSR) of C- (Weak) of United Security Assurance Company of Pennsylvania (USAP). The outlook of these Credit Ratings (ratings) has been revised to negative from stable.The ratings reflect USAP’s balance sheet strength, which AM Best assesses as very weak, as well as its marginal operating performance, very limit