Business Services Industry
A.M. Best Withdraws Ratings of HMO New Mexico Following Merger
Business Wire, April 9, 2008
OLDWICK, N.J. -- A.M. Best Co. has withdrawn the financial strength rating (FSR) of A (Excellent) and issuer credit rating (ICR) of "a " of HMO New Mexico (Albuquerque, NM), a former subsidiary of Health Care Service Corporation, a Mutual Legal Reserve Company (HCSC) (Chicago, IL).
Effective October 1, 2007, HMO New Mexico's business was transferred to HCSC as part of a subscriber transfer agreement; consequently, HMO New Mexico was dissolved on December 18, 2007. The FSR and ICR of HCSC are unchanged by this transaction.
For Best's Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings.
> Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com.Most Recent Business Articles
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