Underwriter downgraded
The Underwriter Insurance Company has been downgraded to BBB+ from A- by international rating agenc...
The Underwriter Insurance Company has been downgraded to BBB+ fromA- by international rating agency Fitch. The company's rating watch has
also changed from 'evolving' to 'negative'. The downgrade follows a review
of The Underwriter's unaudited 2002 report and accounts, its capital
position and revised business plan following the departure of company
chief executive Keith Rutter. Fitch downgraded The Underwriter to AAA- on
Mr Rutter's departure in March 2003.
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