NEW YORK (Standard&Poor's) Aug. 14, 2003--Standard&Poor's Ratings Services said today that it lowered its counterparty credit and senior debt ratings on Unitrin Inc. to 'BBB+' from 'A-' because of a decline in operating company capital adequacy related to losses in the group's property/casualty insurance businesses as well as growth through sales and acquisitions. At the same time, Standard&Poor's affirmed its 'A+' counterparty credit and financial strength ratings on Unitrin's life and health operating subsidiaries and its 'A' counterparty credit and financial strength ratings on Unitrin's property/casualty companies. The ratings reflect the companies' very strong capitalization, strong and diversified niche business positions, and very strong and stable operating performance in the life/health insurance and consumer
