YOUR BUSINESS AUTHORITY
Springfield, MO
YOUR BUSINESS AUTHORITY
Springfield, MO
State Farm General Insurance Co.'s credit rating has been downgraded by AM Best, a credit rating agency that specializes in the insurance industry.
State Farm General’s financial strength rating has been lowered to B, or fair, from A, or excellent. The company's long-term issuer credit rating also was downgraded.
The new ratings “reflect State Farm General’s balance sheet strength, which AM Best assesses as weak, as well as its marginal operating performance, neutral business profile and appropriate enterprise risk management," officials with the rating agency said.
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