PXRE ratings downgraded again by AM Best
AM Best has announced that it has downgraded the financial strength rating (FSR) to B (Fair) from B+ (Very Good) and the issuer credit ratings (ICR) to "bb" from "bbb-" for the reinsurance subsidiaries of the PXRE Group.
The rating actions apply to PXRE Reinsurance (Bermuda) and PXRE Reinsurance Company (Hartford, CT). AM Best has also downgraded PXRE's ICR to "b" from "bb-" and all its existing and indicative debt
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