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Outbyte PC Repair FREEClear out junk files and repair common Windows errorsFree Scan →Outbyte Driver Updater FREEFix the driver behind crashes, sound loss and screen glitchesFind Drivers →No: Construction Guarantee Cooperative’s latest located AM Best rating action does not affirm an A+ insurer financial-strength rating. AM Best’s July 24, 2026 announcement affirms an A (Excellent) Financial Strength Rating and a separate a+ (Excellent) Long-Term Issuer Credit Rating; both have stable outlooks. The A+ grade belongs to the issuer credit rating, not the financial-strength rating.
What AM Best affirmed
AM Best affirmed Construction Guarantee Cooperative’s (CG) Financial Strength Rating (FSR) at A (Excellent) and its Long-Term Issuer Credit Rating (ICR) at a+ (Excellent), with stable outlooks on both. These are two distinct ratings, so the lowercase “a+” on the ICR should not be described as an A+ insurer financial-strength grade.
AM Best said: “The ratings reflect CG’s balance sheet strength, which AM Best assesses as strongest, as well as its adequate operating performance, favourable business profile and appropriate enterprise risk management.” The statement is the agency’s rationale, not an independent assessment of CG’s finances.
Why the outlook is stable
A stable outlook is AM Best’s assessment accompanying this rating action. It is not a promise that the ratings or CG’s financial condition will remain unchanged. AM Best’s July 2026 release says the agency expects risk-adjusted capitalisation to remain comfortably at the strongest level under Best’s Capital Adequacy Ratio (BCAR). It cites CG’s large capital base, extremely low underwriting leverage, favourable liquidity, debt-free position and conservative investment strategy as supporting factors. The release provides these as qualitative descriptions, not a current numeric capital or performance figure.
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How the other published ratings compare
CG’s ratings page lists Moody’s A2, Stable, and Fitch A+, Stable, both updated in October 2025. It also lists AM Best A, Stable, updated July 25, 2025; that entry predates the July 2026 action and is not the latest AM Best announcement.
| Agency | Rating shown | Outlook | Displayed action/update date | Category |
|---|---|---|---|---|
| AM Best | A (Excellent) | Stable | July 24, 2026 | Financial Strength Rating |
| AM Best | a+ (Excellent) | Stable | July 24, 2026 | Long-Term Issuer Credit Rating |
| Moody’s | A2 | Stable | October 23, 2025 | Not stated on CG’s ratings page |
| Fitch | A+ | Stable | October 19, 2025 | Not stated on CG’s ratings page |
These grades come from different agencies and, where identified, different rating categories. A grade-only comparison can therefore mislead; consider the agency, category, scale, outlook and date together. The listed Moody’s and Fitch dates are the dates shown on CG’s ratings page, not current 2026 actions.
Independent reader supportYour contribution helps us test, update, and keep practical guides available for everyone.What the historical AM Best rating does—and does not—show
AM Best’s October 19, 2023 announcement reported an FSR of A+ (Superior) and an ICR of aa- (Superior), both stable. Those grades differ from the 2026 announcement. The available notices do not provide a complete intervening chronology or explain every change, so they are not enough to characterize the July 2026 action by itself as an upgrade or downgrade. The 2023 release also cited a capital base of KRW 6.8 trillion (USD 5.4 billion) as of year-end 2022; that is historical, not a current capital figure.
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Sources
- AM Best: “AM Best Affirms Credit Ratings of Construction Guarantee Cooperative,” July 24, 2026
- Construction Guarantee: “Credit Ratings”
- AM Best: “AM Best Affirms Credit Ratings of Construction Guarantee Cooperative,” October 19, 2023
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