OLDWICK, N.J.--(BUSINESS WIRE)--A.M. Best has downgraded the financial strength rating (FSR) to B (Fair) from B++ (Good) and the issuer credit rating (ICR) to “bb” from “bbb” of American Federated Insurance Company (AFIC), and the FSR to B (Fair) from B+ (Good) and the ICR to “bb” from “bbb-” of its sister company, American Federated Life Insurance Company (AFLIC) (both domiciled in Flowood, MS) (known collectively as American Federated Insurance Companies). The outlook for all ratings has been
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