OLDWICK, N.J.–(BUSINESS WIRE)–A.M. Best has downgraded the Financial Strength Rating to B- (Fair) from B (Fair) and the Long-Term Issuer Credit Rating to “bb-” from “bb” of Tower Bonding and Surety Company (Tower Bonding) (Old San Juan, PR). The outlook of these Credit Ratings (ratings) remains negative. The ratings reflect Tower Bonding’s balance sheet strength, which A.M. Best categorizes as adequate, as well as its marginal operating performance, limited business profile and marginal enter
