OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has placed under review with negative implications the Financial Strength Rating of A (Excellent) and the Long-Term Issuer Credit Rating of “a” of American Sentinel Insurance Company (American Sentinel) (Harrisburg, PA).
The rating actions follow the announcement by Aegis Security Insurance Company (Aegis) of its entry into a definitive agreement with LD Investments, LLC on Feb. 14, 2018, in which LD Investments, LLC will acquire American Sentinel, a wholly owned subsidiary of Aegis, in a cash transaction expected to close by the third quarter of 2018. The negative implications reflect the uncertainty of American Sentinel’s capital position or expected business operations under the new management. The ratings will remain under review until the transaction closes, and A.M. Best has been able to assess the full details of the transaction and its implications for American Sentinel.
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