Fitch: Torchmark view negative

Fitch Ratings said it affirmed Torchmark Corp.'s issuer default rating of A+, senior note ratings of A and commercial paper rating of F1.

The outlook was revised to negative from stable.

The outlook revision reflects Fitch's concerns regarding declining statutory capital levels and the company's competitive challenges, Fitch said.

Ratings recognize the strong earnings profile of the issuer's insurance subsidiaries, tight expense controls and good balance sheet fundamentals, the agency noted.

Partially offsetting these strengths is the sensitivity of the company's low- to middle-income target market to worsening economic conditions and increasing competitive conditions, Fitch said.

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