On June 19, 2002, Standard&Poor's assigned its counterparty credit rating to Unitrin Inc. (Unitrin). At the same time, Standard&Poor's assigned preliminary ratings to the senior debt, subordinated debt, and preferred stock which may be issued from Unitrin's $500 million shelf registration filed on May 9, 2002. Standard&Poor's also took rating action on various insurance subsidiaries of Unitrin (see ratings list). The ratings on Reserve National Insurance Co. were raised to reflect the implicit support from its parent, United Insurance Co. of America. The ratings on the core life/health insurance companies, led by United Insurance Co. of America, were lowered and the outlook was revised to stable from negative. The ratings on the core property/casualty
