secwatch.observer — SEC 8-K summary
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Issuer:     AMERICAN COASTAL INSURANCE Corp (ACIC)
CIK:        0001401521
Form:       8-K
Filed at:   2022-12-09T23:59:59+00:00
Accession:  0001401521-22-000130
Event type: other_material
Sentiment:  negative
Materiality: 0.65
Item codes: 8.01
LLM model:  deepseek-v4-flash:cloud@v2

KBRA downgrades UIHC debt to BB+ from BBB-; UPC IFSR cut to B+
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- UIHC issuer/debt rating cut to BB+ from BBB-; UPC IFSR downgraded to B+ from BB-.
- KBRA withdrew UPC's IFSR at company's request; American Coastal and Interboro affirmed A-.
- All ratings removed from Watch Downgrade; Negative Outlook assigned.
- $150M senior notes coupon steps to 7.25% from 6.25% due to rating trigger.
- No other material impacts from downgrade as of Dec 9, 2022.

Source:
  EDGAR index:    https://www.sec.gov/Archives/edgar/data/1401521/000140152122000130/0001401521-22-000130-index.htm
  Primary doc:    https://www.sec.gov/Archives/edgar/data/1401521/000140152122000130/uihc-20221209.htm
  HTML page:      https://secwatch.observer/filing/0001401521-22-000130

License: Source filings: public domain (SEC EDGAR). Summaries (headline + bullets): CC-BY-4.0; attribute https://secwatch.observer