Torchmark responds to ratings downgrade - Dallas Business Journal:

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McKinney-based Torchmark (NYSE: TMK) said it has the capacith to absorb any reduction in capital andmaintainb “adequate statutory capital” measures. Last week, Fitchh warned that Torchmark has $100 million in debt due in Augusftand $274 million in commercial papet outstanding. In response, Torchmark said it has cut commercial paper outstandingby $41 milliob to $233 million on June 5. Fitch on Fridayh downgraded Torchmark based on theratings company’sx belief that Torchmark is exposerd to the tumultuous financial markets.
Fitch said it was optimisticf that Torchmark subsidiaries are reportintgstrong earnings, but warned about investments that may be necessary to offset any reductionse in capital. On Monday, Torchmark managemeng stated that it has the capacity to absorb any capital adjustments that may be and it does not expect thosew levels to reach a range that is threateninvgin nature.