A.M Best has assigned a “bbb-” Long-Term Issuer Credit rating to
CBL Corporation Limited (CCL). The outlook for the rating is stable.
The rating reflects the use of typical notching from CBL Insurance Limited’s (CBL) current “a-” rating, with a stable outlook. On a consolidated basis, CCL maintains moderate financial leverage. A.M Best said it expects the CCL’s interest coverage ratio to support its guideline for the assigned rating.
“Factors that may lead to negative rating actions for CCL include deterioration in operating performance in the subsidiary insurance operations or a decrease in CBL’s risk-adjusted capitalization to a level that would no longer support its current ratings,” A.M Best said.
CCL is a listed company on the Australian Securities Exchange and the New Zealand Stock Exchange.
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