A.M. Best Co. has downgraded the financial strength ratings to C++ (Marginal) from B (Fair) of the participants in the Kemper Insurance Companies (Long Grove, IL) inter-company pool, eight reinsured affiliates and one domestic affiliate and removed it from under review. The rating outlook is negative. Concurrently, A.M. Best has downgraded the debt rating on the $700 million surplus notes to "c" from "ccc+" issued by Lumbermens Mutual Casualty Company (LMC) (Long Grove, IL), the lead member of the inter-company pool, as it has technically defaulted on the interest payments of the surplus notes...
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