A.M. Best Upgrades Various Ratings of Delphi Financial Group Ratings; Assigns Issuer Credit Ratings |
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Press Release- December 21, 2005
[ Jim Peavy, Best's Review ] A.M. Best Co. has upgraded the financial strength ratings (FSR) to A (Excellent) from A- (Excellent) and assigned issuer credit ratings (ICR) of "a" to Delphi Financial Group, Inc.'s (Delphi Financial) [NYSE:DFG] (Wilmington, DE) primary life insurance subsidiaries, Reliance Standard Life Insurance Company (Reliance Standard) (Chicago, IL) and First Reliance Standard Life Insurance Company (New York, NY). A.M. Best has also upgraded the debt rating to "bbb" from "bbb-" on $143.8 million 8%senior unsecured notes, due 2033 of Delphi Financial and the debt rating to "bbb-" from "bb+" on $100million 9.31% capital securities, due 2027 issued by Delphi Funding L.L.C. All ratings have a stable outlook. Reliance Standard continues to profitably grow its core group long-term disability and group life insurance businesses in a very competitive employee benefits market. The upgrade reflects its favorable level of profitability over the last several years, established market presence in its core small to mid-sized employee benefits market, strengthening capitalization and improved investment quality...
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