GuideOne Hit With S&P Ratings Downgrade

Standard & Poor's Ratings Services said yesterday that it lowered its counterparty credit and financial strength ratings on the members of the GuideOne Insurance Group to 'BBBpi' from 'Api' because of poor operating performance at the property/casualty operations. Standard & Poor's also said that it assigned its 'BBBpi' counterparty credit and financial strength ratings to Millennium Insurance Co. (Millennium) and GuideOne Property & Casualty Insurance Co. In addition, Standard & Poor's withdrew its 'Api' counterparty credit and financial strength ratings on GuideOne Life Insurance Co. (Gu...