NEW YORK (Standard&Poor's) Nov. 21, 2008--Standard&Poor's Ratings Services today said it lowered its counterparty credit and financial strength ratings on Unitrin Inc.'s property/casualty (P/C) subsidiaries (collectively, Trinity) to 'A-' from 'A' and affirmed its 'A+' counterparty credit and financial strength ratings on Unitrin's life subsidiaries. We also affirmed our 'A' counterparty credit and financial strength ratings on Reserve National Insurance Co. and our 'BBB' counterparty credit rating on Unitrin Inc. At the same time, Standard&Poor's removed all of the ratings from CreditWatch, where they had been placed with negative implications on Sept. 3, 2008. The outlook on all of the companies is negative. "The removal of the CreditWatch listing reflects Standard&Poor's view
