ERAC taken off CreditWatch
Standard & Poor’s (S&P) has taken Employers Reassurance Corporation (ERAC) off CreditWatch and affirmed its ‘A+’ financial strength rating. However, it added that the outlook was negative.
The rating agency said that it taken action following an explicit guarantee provided by ERAC’s parent company, Employers Reinsurance Corporation (ERC), to guarantee ERAC’s policyholder obligations.S&P
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