A.M. Best withdraws credit ratings of MVP Health Plan, Inc and affiliates

Vermont Business MagazineA.M. Besthas affirmed the Financial Strength Rating of B+ (Good) and the Long-Term Issuer Credit Ratings of “bbb-” forMVP Health Plan, Inc.,MVP Health Services Corp.andMVP Health Insurance Company(all domiciled in Schenectady, NY) (collectively referred to asMVP Group). The outlook of these Credit Ratings (ratings) is stable. Concurrently, A.M. Best has withdrawn the ratings as the company has requested to no longer participate in A.M. Best’s interactive rating process.

The ratings affirmations reflect the MVP Group’s balance sheet strength, which A.M. Best categorizes as adequate, as well as its marginal operating performance, limited business profile and appropriate enterprise risk management. After several years of underwriting and net losses, MVP Group has shown improvement in earnings in 2016 and through Sept. 30, 2017. The organization operates in a limited geographic area, which includes upstate New York and Vermont. Enrollment has experienced growth in 2016 and through Sept. 30, 2017 following a period of steady decline.

This press release relates to Credit Ratings that have been published on A.M. Best’s website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best’sRecent Rating Activityweb page. For additional information regarding the use and limitations of Credit Rating opinions, please viewUnderstanding Best’s Credit Ratings. For information on the proper media use of Best’s Credit Ratings and A.M. Best press releases, please viewGuide for Media - Proper Use of Best’s Credit Ratings and A.M. Best Rating Action Press Releases.

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Source: December 20, 2017 OLDWICK, N.J.--(BUSINESS WIRE)--A.M. BestCopyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.