Fitch Ratings today commented on the status of the Rating Watch Negative assigned on April 4, 2003, to the ratings of the Atlantic Mutual Companies (AMC). The Rating Watch applies to the 'BBB' insurer financial strength ratings of the AMC group companies and the 'BB' surplus note rating of Atlantic Mutual Insurance Company.
AMC is in the midst of a capital raising initiative that it expects to complete by September 2003. Fitch believes timely execution of the capital raising initiative is critical to AMC's ability to hold its current Fitch ratings. This is due to Fitch's concerns that, ba...
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