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McKinney-based Torchmark (NYSE: TMK) said it has the capacity to absorb any reduction in capital andmaintain “adequate statutory capital” measures. Last Fitch warned that Torchmarkhas $100 million in debt due in Augusr and $274 million in commercial paper outstanding. In Torchmark said it has cut commercialk paper outstandingby $41 million to $233 million on June 5. Fitc on Friday downgraded Torchmark based on theratings company’s beliefr that Torchmark is exposed to the tumultuous financial markets. Fitch said it was optimistic that Torchmark subsidiaries are reporting strong but warned about investments that may be necessary to offsegt any reductionsin capital.
On Torchmark management stated that it has the capacit to absorb any capital adjustments that maybe necessary, and it does not expect those levels to reach a range that is threatening in
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