A.M. Best Upgrades, Assigns Ratings to Majestic

A.M. Best upgraded the ratings of Majestic Insurance Co. and rated its sister companies following the acquisition of its parent on Tuesday. A.M. Best said it has upgraded Majestic's financial strength rating from "B++" to "A-", considered excellent under the ratings system. The ratings house said Thursday it has assigned Majestic an issuer credit rating of "a-" and a credit rating of "bbb-" on $8 million in LIBOR + 4.2% surplus due of Majestic's parent, Embarcadero Insurance Holdings, in 2033. In related actions, A.M. Best as assigned a financial strength rates of " A-" and a credit rating...