Fitch Ratings has affirmed the A- insurer financial strength rating of the Connecticut Attorneys Title Insurance Co., but has revised its rating outlook from stable to negative.

The negative outlook “reflects CATIC's relatively lower tolerance to absorb operating losses in the current environment because it is a modestly-sized underwriter in a concentrated geographic area with limited access to outside capital funds relative to larger, more geographically diverse peers with greater financial flexibility,” according to Fitch.

The ratings agency did say that CATIC has thus far done a decent job of holding on to surplus, and its conservative balance sheet is a strength.

CATIC, based in Rocky Hill, is an attorney-owned title insurance company and controls the state’s third-largest share of the title insurance market, at 21 percent, Fitch said.