AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” (Excellent) of Afianzadora G&T S.A. (AG&T) (Guatemala). The outlook of these Credit Ratings (ratings) is stable. Concurrently, AM Best has withdrawn these ratings as a result of Afianzadora G&T, S.A. being dissolved when it merged with Seguros G&T, S.A., the latter being the absorbing entity.
The ratings reflect AG&T’s balance sheet strength, which AM Best assesses as very strong, as well as its adequate operating performance, neutral business profile and appropriate enterprise risk management.
This final update and withdrawal of the ratings follows the Oct. 10, 2023 notification of the merger of AG&T into its sister company, Seguros G&T, S.A., which effectively dissolved AG&T.
This press release relates to Credit Ratings that have been published on AM Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see AM Best’s Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Guide to Best’s Credit Ratings. For information on the proper use of Best’s Credit Ratings, Best’s Performance Assessments, Best’s Preliminary Credit Assessments and AM Best press releases, please view Guide to Proper Use of Best’s Ratings & Assessments.
AM Best is a global credit rating agency, news publisher and data analytics provider specializing in the insurance industry. Headquartered in the United States, the company does business in over 100 countries with regional offices in London, Amsterdam, Dubai, Hong Kong, Singapore and Mexico City. For more information, visit www.ambest.com.
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