Press Release: Providence Mutual : A.M. Best Revises Outlook to Negative for The Providence Mutual Fire Insurance Company

OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has revised the outlook to negative from stable and affirmed the financial strength rating of A- (Excellent) and the issuer credit rating of "a-" for The Providence Mutual Fire Insurance Company (Providence Mutual). The company is headquartered in Providence, RI. The revised outlook reflects Providence Mutual's unprofitable underwriting results over several years as a result of persistent significant weather events and its elevated expense ratio. Severa