The stable outlook reflects ASCís improved operating earnings reported in 2013 and excellent liquidity position. The company's operating results are trending upward as ASC has weathered the recession well with further improvement in earnings expected in the medium term.
While ASC is well positioned at its current rating level, negative rating actions could occur if earnings decline and/or capitalization levels materially deteriorate.
The methodology used in determining these ratings is Bestís Credit Rating Methodology, which provides a comprehensive explanation of A.M. Bestís rating process and contains the different rating criteria employed in the rating process. Bestís Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.
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