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ST. PAUL PLEASED WITH AFFIRMATION OF KEY RATINGS BY STANDARD & POOR'S

 ST. PAUL, Minn., July 8 /PRNewswire/ -- The St. Paul Companies (NYSE: SPC) today said it is very pleased with the affirmation of several key financial ratings by Standard & Poor's Corporation in the wake of The St. Paul's recent acquisition of Economy Fire & Casualty Co., of Freeport, Ill.
 Standard & Poor's earlier today affirmed The St. Paul's "AA-" senior debt, "A-1+" commercial paper and St. Paul Fire and Marine Insurance Co.'s intercompany pool "AAA" claims-paying ability ratings.
 "We feel that the strength of our balance sheet, especially when coupled with our business outlook, more than substantiates the high ratings Standard & Poor's maintains for us," said James Boudreau, St. Paul vice president and treasurer.
 "We concur fully with Standard & Poor's comment that our recent acquisition of Economy Fire & Casualty Co. will offer us 'an opportunity to add profitable personal lines premium and provide added balance to the current business mix,'" Boudreau said.
 The St. Paul announced on July 1 that it had reached a purchase agreement to acquire Economy Fire & Casualty Co. from Kemper Corporation, Long Grove, Ill. Economy is Illinois' fifth-largest personal lines insurance company.
 -0- 7/8/93
 /CONTACT: Mark Hamel of The St. Paul Companies, 612-223-3588/
 (SPC)


CO: The St. Paul Companies ST: Minnesota IN: INS SU:

KH -- MN020 -- 9632 07/08/93 15:58 EDT
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Publication:PR Newswire
Date:Jul 8, 1993
Words:217
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