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Fitch affirms Progressive
Fitch Ratings said it affirmed Progressive Corp.’s issuer default rating at A+, senior debt ratings at A and junior debt at BBB+.
The agency also affirmed Progressive's operating subsidiaries' insurer financial strength rating at AA.
The outlook is stable.
Fitch's said the ratings are based on Progressive's excellent operating performance, pricing and underwriting expertise, personal auto insurance franchise, conservative investment allocation and strong risk-based capital position.
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