OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best Co. has commented that the issuer credit rating of BF&M Limited (BF&M), as well as the issuer credit ratings and financial strength ratings of its insurance subsidiaries, remain unchanged following the announcement that BF&M has entered into an agreement to acquire Island Heritage Holdings Limited and its subsidiaries. All companies are domiciled in Hamilton, Bermuda.
A.M. Best anticipates that the proposed transaction will not stress BF&M’s leverage or coverage position. Furthermore, the proposed acquisition will allow BF&M to expand its presence in the property and casualty segment, as well as extend its geographical market outside the island of Bermuda.
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. Key criteria utilized include: “Understanding Universal BCAR”; “A.M. Best’s Ratings & the Treatment of Debt”; and “Assessing Country Risk.” Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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