AM Best Downgrades Issuer Credit Rating of Members of Auto Club Enterprises Group; Removes From Under Review With Positive Implications, Upgrades Credit Ratings of Wawanesa General Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)-- #insurance--AM Best has downgraded the Long-Term Issuer Credit Ratings (Long-Term ICR) to “aa-” (Superior) from “aa” (Superior) and affirmed the Financial Strength Rating (FSR) of A+ (Superior) of members of Auto Club Enterprises Insurance Group (ACE) (headquartered in Costa Mesa, Ca). The outlook of the Long-Term ICRs has been revised to stable from negative while the outlook of the FSR is stable. Concurrently, AM Best has removed from under review with positive implication