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Fitch affirms Liberty Mutual
Fitch Ratings said it affirmed Liberty Mutual Group, Inc.'s issuer default rating at BBB.
The outlook remains negative.
The affirmations are based on the company's established and sustainable positions in its chosen markets, benefits derived from the company's multiple distribution channels, adequate core underwriting earnings and good liquidity profile, the agency said.
The action also considers the company's $1.8 billion decline in statutory surplus at year-end 2008 compared with the prior year level, worse-than-average profitability and capitalization metrics, and limited financial flexibility, Fitch added.
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