AM Best Downgrades Credit Ratings of State Farm General Insurance Company

OLDWICK, N.J--(BUSINESS WIRE)-- #insurance--AM Best has downgraded the Financial Strength Rating (FSR) to B (Fair) from A (Excellent) and the Long-Term Issuer Credit Rating (Long-Term ICR) to “bb+” (Fair) from “a” (Excellent) of State Farm General Insurance Company (State Farm General) (Bloomington, IL). The outlook of the FSR has been revised to stable from negative, while the outlook of the Long-Term ICR is negative. The Credit Ratings (ratings) reflect State Farm General’s balance sheet strength, which A