OLDWICK, N.J.–(BUSINESS WIRE)– #insurance–AM Best has downgraded the Financial Strength Rating to B+ (Good) from B++ (Good) and the Long-Term Issuer Credit Rating to “bbb-” (Good) from “bbb+” (Good) of Frederick Mutual Insurance Company (FMIC) (Frederick, MD). The outlooks of these Credit Ratings (ratings) have been revised to negative from stable. The ratings reflect FMIC’s balance sheet strength, which AM Best assesses as adequate, as well as its marginal operating performance, limited business profile My Business Wire News
