A.M. Best has assigned a debt rating of “bb+” to the recently
issued $150.0 million 7.375% subordinated debentures due 2054 of Kemper
Corporation (Kemper) (Chicago, IL) [NYSE: KMPR]. Concurrently, A.M.
Best has assigned indicative ratings of “bbb-” to senior debt, “bb+” to
subordinated debt and “bb” to preferred stock of Kemper’s recently filed
shelf registration. The outlook assigned to all ratings is stable.
Kemper intends to use the net proceeds for general corporate purposes,
which may include the partial repayment of outstanding debt. The
company's financial leverage and coverage measures remain within A.M.
Best's guidelines for the assigned ratings.
The methodology used in determining these ratings is Best’s Credit
Rating Methodology, which provides a comprehensive explanation of A.M.
Best’s rating process and contains the different rating criteria
employed in the rating process. Best’s Credit Rating Methodology can be
found at www.ambest.com/ratings/methodology.
A.M. Best Company is the world's oldest and most authoritative
insurance rating and information source. For more information, visit www.ambest.com.
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