Auto insurer 21st Century downgraded after acquisition

Auto insurer 21st Century National suffered a downgrade today as
AM Best cut its financial strength rating one notch to A-, citing
its acquisition by Plymouth Rock Group on 1 April.
The deal to buy New York-domiciled National from Farmers
Insurance Group affiliates opened the door to the big Empire State
market for Plymouth Rock when the acquisition was approved by
regulators. AM Best said the rating downgrade reflected the A-
grades given other operating units of the Boston-based
acquirer....