(ADPnews) - Jun 9, 2011 - AM Best lifted yesterday to B++ (good) from B+ (good) the financial strength rating (FSR) and to "bbb" from "bbb-" the issuer credit rating (ICR) of US Presidential Life Insurance Co.
In addition, the agency upgraded to "bb" from "bb-" the ICR of the parent company, Presidential Life Corp (NASDAQ: PLFE).
All ratings carry a "stable" outlook.
The higher ratings evaluate Presidential Life's strong capitalisation, profitable earnings secured through solid, although volatile, investment income, resolution of litigation issues from previous management and shareholder proxy issues, the agency said. The ratings also consider the company's …
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