NCCI Again Earns A2 Rating from Moody's Investor Service

Washington, DC (WorkersCompensation.com) - Moody's Investors Service affirmed the A2 issuer rating assigned to NCCI Holdings, Inc. (NCCI). The rating outlook remains stable.

The A2 Issuer Level rating is based on NCCI's distinctive market niche, balanced operating performance, and strong board and senior leadership that demonstrate solid fiscal stewardship.

Among NCCI strengths noted in the Moody's announcement:

• Unique niche and solid market position as the nation's largest and most experienced provider of workers compensation and employee injury data and statistics for a large variety of private and governmental constituents, including insurance companies and state governments.
• Consistently positive operating performance before income taxes, as calculated by Moody's, with a relatively diverse revenue base and a cost structure that allows management to adjust expenses based on revenue projections.
• Proactive management team with strong command of the organization's financial position and maintaining a financially sound organization, as well as a board consisting of independent members and representatives of the insurance industry and major constituencies.