 OLDWICK, N.J.--BUSINESS WIRE-- insurance--AM Best has revised the outlooks to negative from stable and affirmed the Financial Strength Rating of B Fair and the Long-Term Issuer Credit Ratings of bb Fair of American Federated Insurance Company AFIC and American Federated Life Insurance Company AFLIC. Both companies are known collectively as American Federated Insurance Companies and are domiciled in Flowood, MS. These Credit Ratings ratings reflect AFICs balance sheet strength, which AM Best 