NEW YORK (Standard&Poor's) Sept. 3, 2008--Standard&Poor's Ratings Services today said it lowered its counterparty credit rating on Unitrin Inc. to 'BBB' from 'BBB+' and placed the rating on CreditWatch with negative implications. At the same time, Standard&Poor's placed its 'A' counterparty credit and financial strength ratings on Unitrin's property/casualty subsidiaries, its 'A+' counterparty credit and financial strength ratings on Unitrin's life subsidiaries, and its 'A' counterparty credit and financial strength ratings on Reserve National Insurance Co. on CreditWatch with negative implications. "The downgrade is the result of an adjustment from a nonstandard gapping differential to a standard gapping differential," said Standard&Poor's credit analyst Eyal Nayowitz. "This reflects the reduced income stream at
