A.M. Best Assigns Debt Rating to Kemper Corporation’s Newly Issued Subordinated Debentures

OLDWICK, N.J.--()--A.M. Best has assigned a debt rating of “bb+” to the recently issued $150.0 million 7.375% subordinated debentures due 2054 of Kemper Corporation (Kemper) (Chicago, IL) [NYSE: KMPR]. Concurrently, A.M. Best has assigned indicative ratings of “bbb-” to senior debt, “bb+” to subordinated debt and “bb” to preferred stock of Kemper’s recently filed shelf registration. The outlook assigned to all ratings is stable.

Kemper intends to use the net proceeds for general corporate purposes, which may include the partial repayment of outstanding debt. The company's financial leverage and coverage measures remain within A.M. Best's guidelines for the assigned ratings.

The methodology used in determining these ratings is Best’s Credit Rating Methodology, which provides a comprehensive explanation of A.M. Best’s rating process and contains the different rating criteria employed in the rating process. Best’s Credit Rating Methodology can be found at www.ambest.com/ratings/methodology.

A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.

Copyright © 2014 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.

Contacts

A.M. Best
Michael T. Venezia
Senior Financial Analyst
(908) 439-2200, ext. 5034
michael.venezia@ambest.com
or
Gary Davis
Assistant Vice President
(908) 439-2200, ext. 5665
gary.davis@ambest.com
or
Rachelle Morrow
Senior Manager, Public Relations
(908) 439-2200, ext. 5378
rachelle.morrow@ambest.com
or
Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
james.peavy@ambest.com

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Contacts

A.M. Best
Michael T. Venezia
Senior Financial Analyst
(908) 439-2200, ext. 5034
michael.venezia@ambest.com
or
Gary Davis
Assistant Vice President
(908) 439-2200, ext. 5665
gary.davis@ambest.com
or
Rachelle Morrow
Senior Manager, Public Relations
(908) 439-2200, ext. 5378
rachelle.morrow@ambest.com
or
Jim Peavy
Assistant Vice President, Public Relations
(908) 439-2200, ext. 5644
james.peavy@ambest.com