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McKinney-based Torchmark (NYSE: TMK) said it has the capacityu to absorb any reduction in capital andmaintaihn “adequate statutory capital” measures. Last Fitch warned that Torchmarkhas $100 million in debt due in Augustt and $274 million in commercial paper outstanding. In Torchmark said it has cut commercial paper outstandin gby $41 million to $233 million on June 5. Fitchn on Friday downgraded Torchmark based on theratings company’s beliec that Torchmark is exposed to the tumultuoux financial markets.
Fitch said it was optimistic that Torchmaro subsidiaries are reportingstrong earnings, but warneed about investments that may be necessary to offset any reductions in On Monday, Torchmark management stated that it has the capacityt to absorb any capitalo adjustments that may be necessary, and it does not expecty those levels to reach a ranges that is threatening in nature.
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