Standard & Poor's Ratings Services said Friday that it removed from CreditWatch its counterparty credit and financial strength ratings on the members of Kemper Insurance Cos. Intercompany Pool (Kemper) and lowered them to 'BBB-' from 'A' based on the good business position of Lumbermens, the pool's lead insurer.
Standard & Poor's also said that it removed from CreditWatch and lowered its subordinated debt rating on Lumbermens Mutual Casualty Co.'s $700 million surplus notes to 'BB' from 'BBB+'.
The outlook on all these companies is stable.
The members of the Illinois-based property/casua...
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