A.M. Best has affirmed the financial strength rating of “A (Excellent)” and issuer credit rating of “a” of The America Road Insurance Company (TARIC). The outlook for both ratings is stable.
“TARIC’s capitalisation and operating performance has been and continues to be robust. The ratings of TARIC have been hampered by the operating challenges of its immediate parent, Ford Motor Credit Company LLC (Ford Credit), and its ultimate parent, Ford Motor Company (Ford), following the 2008 financial crisis,” said the ratings firm in a statement.
The ratings also recognise TARIC’s excellent capitalisation level, history of positive operating performance, conservative reserve practices and effective management of exposures.
Partially offsetting the positive ratings are the operation and profitability of Ford Credit and Ford and their potential impact on TARIC.
