Ohio Casualty on WatchNeg

The “A” counterparty credit and financial strength ratings on the group of companies known collectively as the Ohio Casualty Insurance Co. Intercompany Pool were placed on CreditWatch with negative implications by S&P. The companies are American Fire & Casualty Co., Ohio Casualty Insurance Co., Ohio Security Insurance Co. and West American Insurance Co. The “BBB” counterparty credit rating on Ohio Casualty Corp. was also placed on CreditWatch with negative implications.

In a separate rating action, A.M. Best downgraded the financial strength of the Ohio Casualty Group from “A+” to “A.” Companies affected by the downgrade are American Fire and Casualty Co., Avomark Insurance Co., Ohio Casualty Insurance Co., Ohio Security Insurance Co. and West American Insurance Co.