Following an annual review of the ratings on St. Paul Cos. Inc., S&P affirmed its ratings on the organization and related entities. Outstanding ratings affirmed for SPC: counterparty credit, “A+”/Stable; senior debt, “A+”; commercial paper, “A-1”. For USF&G Corp.: counterparty credit, “A+”/Stable; senior debt, “A+”; subordinated debt, “A”. For MMI Capital Trust I, and USF&G Capital I, II and III: preferred stock, “A-“. For St. Paul Ins. Co. of IL, St. Paul Lloyd’s, Northbrook National Ins. Co., St. Paul Reinsurance Co. Ltd., St. Paul International Ins. Co. Ltd.; and United States Fidelity & Guaranty Life Ins. Co.: counterparty credit, “AA”/Stable; FSR, “AA.” For Fidelity & Guaranty Life Ins. Co. and Thomas Jefferson Life Ins. Co.: FSR, “AA.” For the members of the St. Paul Fire & Marine Ins. Co. Intercompany Pool: counterparty credit, “AA”/Stable; FSR, “AA.”
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