S&P rates Kemper notes BBB

S&P said it assigned its BBB debt rating to Kemper Corp.’s proposed $400 million of 2.4% senior notes due 2030.

Proceeds are expected to be used to support potential growth opportunities across its diversified property/casualty and life and health business.

“The proposed issuance raises Kemper’s financial leverage to about 23%-25%, up from 18% as of second-quarter 2020, but this is well supported by the firm’s strong cash-flow generation and improved underwriting performance – which was strengthened by its integration of Infinity,” S&P said in a press release.

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