BEST Downgrades Harleysville P/C Members to 'A-' Rating

A.M. Best Co. has downgraded the financial strength ratings to A- (Excellent) from A (Excellent) for the property/casualty pool members of Harleysville Insurance (Harleysville) (Harleysville, PA). Concurrently, A.M. Best has downgraded the debt ratings of Harleysville Group Inc.'s (HGIC) [NASDAQ: HGIC] existing senior notes to "bbb-" from "bbb+" and the indicative ratings of senior debt to "bbb-" from "bbb+", subordinated debt to "bb+" from "bbb", trust preferred securities to "bb" from "bbb-" and preferred stock to "bb" from "bbb-", which have been filed as part of its universal shelf registr...