Meadowbrook Insurance Shares Plunge, Traders Point at Late-Friday Downgrade by AM Best

A.M. Best Co. has downgraded the financial strength rating (FSR) to B++ (Good) from A- (Excellent) and issuer credit ratings (ICR) to “bbb+” from “a-” for the subsidiaries of Meadowbrook Insurance Group, Inc. (NYSE: MIG ) (Southfield, MI) [NYSE: MIG], which operates under an intercompany reinsurance pooling agreement. A.M. Best also has downgraded