OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has downgraded the issuer credit rating (ICR) to “bbb” from “bbb+” and affirmed the financial strength rating of B++ (Good) of Trans World Assurance Company (TWA)(San Mateo, CA). The outlook for the ICR has been revised to stable from negative while the outlook for the FSR remains stable. Concurrently, A.M. Best has affirmed the affirmed ICR of “bbb-” and FSR of B+ (Good) for TWA’s subsidiary, TransAm Assurance Company (TransAm)(Phoenix, AZ). The outloo