OREANDA-NEWS. A.M. Best has downgraded the financial strength rating to C++ (Marginal) from B- (Fair) and the issuer credit rating to “b” from “bb-” of Public Service Insurance Company (Chicago, IL) and its affiliates, Paramount Insurance Company (New York, NY) and Western Select Insurance Company (Chicago, IL).

Additionally, the ratings have been removed from under review with negative implications and assigned negative outlooks. Concurrently, A.M. Best has withdrawn the ratings in response to the company’s request to no longer participate in A.M. Best’s interactive rating process.