Best Says Vesta No Longer Secure
NU Online News Service, April 1, 3:02 p.m. EST? Vesta Insurance said yesterday that it might divest itself of some property-casualty subsidiaries after A.M. Best Co. announced it had downgraded the ratings of Vesta p-c affiliates.
A.M. Best said it dropped the Birmingham, Ala. Group's subsidiaries rating from "B-plus" (very good) to "B" (fair). It said the group's existing senior debt had been assigned a "b-'' rating and its deferrable capital securities were rated "ccc."
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