Reports Ratings Upgrade From AM Best Company
FAIRFIELD, Ohio--(BUSINESS WIRE)--March 20, 2007--Ohio Casualty Group today announced that effective March 20, 2007, A.M. Best Company raised its financial strength and issuer credit ratings (ICR) on Ohio Casualty Group and its member companies to 'A' (Excellent) and 'a' from 'A-' and 'a-' respectively. The outlook is stable. At the same time, A.M. Best upgraded the ICR and senior debt ratings to 'bbb' from 'bbb-' for the Group's parent, Ohio Casualty Corporation (NASDAQ:OCAS). Ohio Casualty Corporation is the holding company of The Ohio Casualty Insurance Company, which is one of six property-casualty insurance companies that make up Ohio Casualty Group. Ohio Casualty Group's Chief Executive Officer Dan Carmichael, CPCU, expressed Ohio Casualty's pleasure with the upgrade: "This action confirms our belief that Ohio Casualty financial results are deserving of a solid 'A' rating.
