Rating Agency Reviewing Beneficial Financial's 'A'
Deseret News (Salt Lake City) › October 25, 2007
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Summary
Beneficial Financial Group's financial-strength rating of "A" has been placed under review "with negative implications" by A.M. Best Co., the rating agency said Wednesday.
The action is due in large part to the Salt Lake-based company's "above-average" exposure to mortgage-backed securities, particularly subprime and Alt-A mortgages, according to an A.M. Best news release.See the full content of this document
Extract
Rating Agency Reviewing Beneficial Financial's 'A'
A.M. Best analyst Rosemarie Mirabella declined to disclose precisely how much Beneficial has invested in the risky mort...
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