OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has placed under review with negative implications the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of “a-” of Triple-S Propiedad, Inc. (Guaynabo, Puerto Rico). The Credit Rating (rating) action follows the company’s recently announced significant decline in policyholder surplus. The decline was driven by adverse development on losses from Hurricane Maria of approximately $76.4 million ($47.5 million after-tax). As
