Nationwide Indemnity Rating Reconsidered

A.M. Best Co. has revised the rating implication to developing from negative for Nationwide Indemnity Company (NIC) of Columbus, Ohio. The financial strength rating (FSR) of A- (Excellent) of NIC remains under review following the third quarter 2005 decline in capital. However, the revision in the rating implication follows recent discussions with management and the potential change in the strategic position of NIC within Nationwide Group. A.M. Best has also assigned an issuer credit rating of "a-" to NIC, placing it under review with developing implications. The FSR rating of NIC was in...