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A.M. Best Co. has assigned an issuer credit rating (ICR) of “bbb” to the newly formed holding company,
United Fire Group, Inc. (UFG, Inc.) (Cedar Rapids, IA) [NASDAQ: UFCS]. The assigned outlook is negative.
This rating action follows the February 2, 2012 reorganization of
United Fire & Casualty Group (United Fire)
(Cedar Rapids, IA), whereby UFG, Inc. replaced
United Fire & Casualty Company as the ultimate publicly traded parent of United Fire and its members, allowing the group to operate under a more traditional holding company structure.