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Business Men's Assurance Co. of America Ratings Withdrawn
Standard & Poors, March 2005
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) March 14, 2005--Standard & Poor's Ratings Services today said it withdrew its 'A-' counterparty credit and financial strength ratings on Business Men's Assurance Co. of America (BMA) at the request of BMA's management. Consequently, BMA will no longer be subject to surveillance by Standard & Poor's. The ratings on the company were based on Standard & Poor's view that BMA is strategically important to its ultimate parent, Royal Bank of Canada (RBC; AA-/NegativeA-1+; TSE/NYSE: RY). On a stand-alone basis however, the ratings on BMA would be lower. The ratings reflect BMA's small size within the RBC Insurance group and its minor position in a very competitive U.S. market, which has pressured earnings growth in the...
Companies mentioned in this report are: Business Men's Assurance Co. of America,Royal Bank of Canada
Action: Withdrawn
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