Research Update: SAFECO Corp. Sep 03
Standard & Poors, September 2003
Abstract
On Sept. 29, 2003, Standard & Poor's Ratings Services affirmed its 'BBB+' counterparty credit rating on SAFECO Corp. and its 'A+' counterparty credit and financial strength ratings on the members of the SAFECO Insurance Co. Intercompany Pool (SAFECO), which are SAFECO Corp.'s property/casualty companies. The outlook on these companies is stable. At the same time, Standard & Poor's lowered its counterparty credit and financial strength ratings on SAFECO Life Insurance Co. and its wholly owned subsidiaries--SAFECO National Life Insurance Co. and First SAFECO National Life Insurance Co. of New York--(collectively referred to as SAFECO Life) to 'A-' from 'A' and placed these ratings on CreditWatch with developing implications. Standard & Poor's took these rating actions on SAFECO Life after SAFECO...
Companies mentioned in this report are: Safeco Corp.,General Insurance Co. of America,First National Insurance Co. of America,Safeco National Insurance Co.,Safeco Insurance Co. of IL,Safeco Insurance Co. of America,American Economy Insurance Co.,American States Preferred Insurance Co.,American States Insurance Co.
Action: On CreditWatch:Developing
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.
Product Type: Research Update
Research updates complement media releases. They offer more depth and detail than summary analyses by incorporating all information published in the media release. They are more up to date than summaries in that they are published simultaneously with media releases.
Safeco Corp.,General Insurance Co. of America,First National Insurance Co. of America,Safeco National Insurance Co.,Safeco Insurance Co. of IL,Safeco Insurance Co. of America,American Economy Insurance Co.,American States Preferred Insurance Co.,American States Insurance Co.
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