Standard & Poor’s Ratings Services placed its “BB+” counterparty credit and financial strength ratings for the members of the Kemper Insurance Cos. Intercompany Pool on CreditWatch with negative implications. Kemper will reportedly be significantly challenged to meet S&P’s expectations in terms of earnings, capital adequacy, and future interest payments on the surplus notes.
S&P’s also said it placed on CreditWatch negative its surplus notes rating on Lumbermens Mutual Casualty Co. and lowered it to “CCC” from “B+.”
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