Fitch Ratings said Wednesday that it has affirmed Progressive Corp.'s (PGR) Issuer Default Rating at 'A+'.
Fitch also affirmed Progressive's operating subsidiaries' Insurer Financial Strength rating at 'AA'.
The Rating Outlook is Stable.
Fitch said its ratings are based on Progressive's excellent operating performance, pricing and underwriting expertise, personal auto insurance franchise, modest catastrophe risk, conservative investment allocation, and strong risk-based capital position.
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