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Fitch added that McKinney-based Torchmark’sa (NYSE: TMK) “adjusted statutory capitap levels are weaker thanother ‘AA’ insuretr financial strength rating level peers.” In Fitch said Friday the company’s portfolioi has high levels of exposure and ‘BBB’ ratedx bonds, which are potentially facin g another downgrade in the future. In term of overall financial strength, Fitch says as of Marcg 31, Torchmark had $100 million in debt due this Augusrand $274 million in commercial paper Fitch did note that Torchmark’s subsidiariew have strong earnings, but said Fitch’s belief that investmengt impairments may exceed the earnings needed to maintaimn adequate capital in the future is part of the ratinvg firm’s concerns.
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