A.M. Best Co. said it will downgrade the financial strength rating and the issuer credit rating of Oklahoma City-based American Farmers & Ranchers Mutual Insurance Company. The rating agency cited concerns about the company's future capital position.
American Farmers & Ranchers Mutual Insurance Company's FSR was lowered to "B-plus" from "B-double-plus," and its issuer credit rating was lowered to "triple-b-minus" from "triple-b." The ratings were placed under review with negative implications, A.M. Best said.
A.M. Best has also assigned a "B-plus" financial strength rating and "triple-b-minus" issuer credit rating to American Farmers & Ranchers Group and American Farmers & Ranchers Insurance Company, which is a recently acquired American Farmers & Ranchers Mutual Insurance Company. These ratings were also placed under review with negative implications.
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