AM Best puts Odyssey on negative review after 10-K delay
AM Best has placed the financial strength rating and the issuer credit and debt ratings of the operating subsidiaries of global reinsurer Odyssey Re under review with negative implications following the company's announcement that it will delay the filing of its 2005 Form 10-K for at least 30 days. All Odyssey Re companies are currently rated 'A' by the agency.
The announcement of the delay follows the company's disclosure on February 9, 2006 that it will restate its financial statements for years 2001 through to 2004 as well as for the nine months ended
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