A.M. Best Co. yesterday downgraded State Compensation Insurance Funds rating to a "B-" from a "B+."Citing concern about State Funds brisk growth - it nearly doubled its premium in one year - coupled with four years of operating losses and some adverse loss development, Best says State Funds balance sheet no longer merits a "B+" rating. It does credit the company for raising its rates, though.A.M. Best said it anticipates further loss reserve development on recent accident years, whi
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