AM Best downgrades BP captive
AM Best has downgraded the financial strength rating (FSR) of Jupiter Insurance (Guernsey) from A (Excellent) from A+ (Superior) and issuer credit rating (ICR) to “a” from “aa-”).
The outlook for both ratings remains negative.
The ratings agency said: "The downgrade and negative outlook reflect concerns over the potential impact on BP of the ongoing Deepwater Horizon oil spill
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