OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has upgraded the financial strength rating (FSR) to A (Excellent) from A- (Excellent) and the issuer credit ratings (ICR) to “a+” from “a-” of the key insurance subsidiaries of Abbaszadeh Dental Group, Inc. (ADG), which include Access Dental Plan (ADP) and Premier Access Insurance Company (PAIC). All ratings have been removed from under review with positive implications and assigned a stable outlook. These companies are headquartered in Sacramento, CA.
The rating upgrades follow the close of ADG’s acquisition by Guardian Life Insurance Company of America (Guardian) (New York, NY). A.M. Best believes ADP and PAIC are strategically important to Guardian as part of the organization’s core dental operation. The acquisition will expand Guardian’s established presence in the dental market by adding employer groups and broadening its provider network. Additionally, the transaction should enhance Guardian's operations through access to ADG’s government dental program business, dental practice centers and its business process outsourcing.
A.M. Best believes that ADP and PAIC may experience positive rating movement if the group is deemed to have a higher strategic value as Guardian's dental provider. Negative rating actions could occur if ADP or PAIC’s overall strategic value to its parent changes or if a significant deterioration in the companies’ operating results and capitalization levels occurs.
The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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