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Fitch affirms Harleysville
Fitch Ratings said it affirmed the BBB issuer default rating on Harleysville Group Inc. and the BBB- rating on Harleysville's 5.75% senior notes due July 15, 2013.
The outlook is stable.
The ratings reflect its solid capitalization, conservative investment portfolio and good fixed charge coverage, the agency said.
Rating concerns are related to the challenges posed by competitive market conditions and an unfavorable economic climate, the agency added.
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