NY -- Standard&Poor's CreditWire 6/29/98 -- Standard&Poor's today lowered its financial strength and counterparty credit ratings on members of the St. Paul Fire&Marine Intercompany Pool (St. Paul Fire&Marine; see list below) and St. Paul Reinsurance Co. Ltd. to double-`A' from triple-`A'. At the same time, Standard&Poor's lowered its rating on St. Paul Companies Inc.'s senior debt and counterparty rating and St. Paul Capital L.L.C.'s preferred stock (guaranteed by St. Paul Companies Inc.) to single-`A'-plus from double-`A'. All ratings were removed from CreditWatch, where they were placed Jan. 20, 1998. The double-`A' financial strength and counterparty credit ratings on Northbrook Indemnity Co., Northbrook National Insurance Co., and Northbrook Property&Casualty
