Moody's Cuts State Farm Ratings
NU Online News Service, July 25, 2:46 p.m. EDT?Moody's Investors Service has lowered financial strength ratings for three members of the State Farm insurance group: State Farm Mutual Automobile Insurance Company, State Farm Life Insurance Company, and State Farm Life and Accident Assurance Company.
The New York-based ratings agency said lowering of the ratings to "Aa1" from the highest investment grade of "Aaa" was prompted by "years of operating losses at the insurance group."
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