I doubt highly that there is anything to worry about but you can bet that these rating agencies continue to damage their credibility with actions like this as after the debacle of giving bogus AAA ratings to bundled mortgage backed securties…. why be too concerned about this transaction, the money is there isn’t it? OHHHH, now they want to look deeper into the financials, now they want to be seen as doing something?
I agree with batman that the money is there. TThe problem is the purchase shows a strong move away from Insurance with substantial capitol. I doubt any worry and he is proud of his rating so expect to see all is well quickly. Best has had some oop’s over the year and each time they have tightened the noose for awhile.
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I doubt highly that there is anything to worry about but you can bet that these rating agencies continue to damage their credibility with actions like this as after the debacle of giving bogus AAA ratings to bundled mortgage backed securties…. why be too concerned about this transaction, the money is there isn’t it? OHHHH, now they want to look deeper into the financials, now they want to be seen as doing something?
I agree with batman that the money is there. TThe problem is the purchase shows a strong move away from Insurance with substantial capitol. I doubt any worry and he is proud of his rating so expect to see all is well quickly. Best has had some oop’s over the year and each time they have tightened the noose for awhile.