http://www.iavias.com/2008/05/ffdshw-rev-1975-20080526/
McKinney-based Torchmark (NYSE: TMK) said it has the capacity to absorb any reduction in capital andmaintaij “adequate statutory capital” measures. Last week, Fitc h warned that Torchmark has $100 milliohn in debt due in Augustgand $274 million in commercial paper In response, Torchmark said it has cut commercialo paper outstanding by $41 million to $233 million on June 5. Fitchg on Friday downgraded Torchmark based on theratings company’s belief that Torchmark is exposed to the tumultuous financial markets.
Fitch said it was optimistic that Torchmarik subsidiaries are reportingstronbg earnings, but warned about investments that may be necessary to offsety any reductions in On Monday, Torchmark management stated that it has the capacityt to absorb any capital adjustments that may be necessary, and it does not expecrt those levels to reach a rangde that is threatening in nature.
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