OLDWICK, N.J.–(BUSINESS WIRE)–Feb. 3, 2003–A.M. Best Co. has downgraded the financial strength ratings to C (Weak) of Trenwick Group Ltd.’s (NYSE: TWK) (Bermuda) ongoing operating subsidiaries and has withdrawn the financial strength ratings of Trenwick’s operating companies–which are now in runoff–and assigned each a NR-3 rating (Rating Procedure Inapplicable). Prior to the withdrawal of these… Continue reading A.M. Best Downgrades Various Financial Strength and Debt Ratings of Trenwick Group
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Stock Exchange Delisting May Be in Fannie’s, Freddie’s Future
In wake of the US government takeover of embattled mortgage finance companies Fannie Mae and Freddie Mac, which destroyed most of the value of the companies’ common stock, the two could eventually be delisted from the New York Stock Exchange (NYSE) and be traded on so-called pink sheets. Fannie Mae and Freddie Mac’s shares, which… Continue reading Stock Exchange Delisting May Be in Fannie’s, Freddie’s Future