Wellington: AM Best has affirmed the Financial Strength Rating of A- (Excellent) and the Long-Term Issuer Credit Rating of 'a-' (Excellent) for Tower Limited (Tower) in New Zealand. The outlook for these credit ratings remains stable.

According to BERNAMA News Agency, the affirmation of these ratings reflects Tower's very strong balance sheet strength. Additionally, the company's operating performance is deemed adequate, and it maintains a neutral business profile. Tower's enterprise risk management is also assessed as appropriate, contributing to the overall stable outlook of the ratings.