On Feb. 3, 2003, Standard&Poor's Ratings Services assigned its 'BBB+' senior debt rating to St. Paul Cos. Inc.'s (St. Paul) medium-term notes, Series D, which will be issued periodically in an aggregate amount up to $500 million as either fixed- or floating-rate notes with stated maturities between nine months and 30 years. The MTN's, to the extent issued, will be drawn down from St. Paul's existing universal shelf registration, which has a total offering capacity of $1.68 billion, and will rank equally with St. Paul's existing senior unsecured debt obligations. The universal shelf's net capacity of about $683 million was amended on Aug. 22, 2002, by $1 billion, resulting in offering capacity of $1.68 billion. Standard&Poor's
