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S&P lowers USAA rating, citing bank weakness and insurance gains
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S&P lowers USAA rating, citing bank weakness and insurance gains
S&P Global Ratings, a provider of independent credit assessments and financial analysis, has downgraded the credit ratings of United Services Automobile Association (USAA) and its core insurance subsidiaries from ‘AA+’ to ‘AA’. The ratings firm, known for its evaluations of companies’ creditworthiness and financial stability, assigned a stable outlook to the insurance group while maintaining a negative outlook for USAA’s intermediate holding com…
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