OREANDA-NEWS. A.M. Best has affirmed the financial strength rating of A- (Excellent) and the issuer credit ratings of “a-” of Pennsylvania National Mutual Casualty Insurance Company (Penn Mutual) and its subsidiaries, Penn National Security Insurance Company, Founders Insurance Company (Lawrenceville, NJ) and Partners Mutual Insurance Company (Waukesha, WI) (collectively referred to as Penn National Insurance Companies). Concurrently, A.M. Best has affirmed the issue rating of “bbb” on $50 million, 9.5% surplus notes, due 2034 issued by Penn Mutual. The outlook for each rating is stable. All companies are headquartered in Harrisburg, PA, unless otherwise specified.