Zenith and Superior Credit Downgrades

WorkComp Executive reported 2/11/00: Two credit rating agencies have downgraded two California-based workers' comp carriers, Zenith National Insurance Group and Superior National Insurance Group. Moody's reduced Superior National's debt and financial strength ratings due to concerns over the insurer's ability this year to meet some bank loan obligations. Since Superior National hasn't yet tried to revise its loan agreement, Moody's says it downgraded the ratings yesterday. And Standard & Poors has reportedly reduced Zenith National's counterparty credit rating, although no explanation ha...