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    AM Best Downgrades Credit Ratings of First American Property & Casualty Insurance Company and First American Specialty Insurance Company

    OLDWICK, N.J.–(BUSINESS WIRE)–AM Best has downgraded the Financial Strength Rating to B++ (Good) from A (Excellent) and the Long-Term Issuer Credit Ratings to “bbb” from “a” of First American Property & Casualty Insurance Company and First American Specialty Insurance Company, collectively referred to as First American PC Companies (FAPCC). The outlook of these Credit Ratings (ratings) has been revised to negative from stable. These companies are domiciled in Santa Ana, CA. The ratings of FAPCC no longer include partial rating enhancement from its parent due to the parent’s initiation of a process to sell its property/casualty business,  

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