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Business Men's Assurance Co. of America Ratings Lowered to 'A-', Off Watch; Outlook Stable
Standard & Poors, July 2003
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
Abstract
NEW YORK (Standard & Poor's) July 10, 2003--Standard & Poor's Ratings Services said today that it lowered its counterparty credit and financial strength ratings on Kansas City, Mo.-based Business Men's Assurance Co. of America (BMA) to 'A-' from 'A', and removed it from CreditWatch were it was placed on May 3, 2002, pending the sale of the nonreinsurance operations to Liberty Life Insurance Co. (Liberty Life). The outlook is stable. 'The ratings action reflects the competitiveness in BMA's markets, which has pressured earnings growth in the past year, new product mix, new distribution, and uncertainty in execution of a business strategy to sell variable products through existing and newly affiliated distribution,' said Standard & Poor's credit analyst Kevin Maher. Offsetting...
Companies mentioned in this report are: Business Men's Assurance Co. of America,Royal Bank of Canada,Assicurazioni Generali SpA,Liberty Life Insurance Co.
Action: Downgraded, Off CreditWatch
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