Troubled Insurer to Offer Stock: USF&G; Corp.,...
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From Times Staff and Wire Reports
Troubled Insurer to Offer Stock: USF&G; Corp., the Baltimore-based insurance conglomerate, announced plans to raise $300 million through two public stock offerings to help strengthen its primary subsidiary, United States Fidelity and Guaranty Co. The corporation’s move follows a decision by A. M. Best Co., an insurance rating firm, to assign a rating of A- to the subsidiary, down slightly from an A contingent rating assigned previously.
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