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DUFF & PHELPS REAFFIRMS TRAVELERS AND PRIMERICA RATINGS

 CHICAGO, Sept. 22 /PRNewswire/ -- Duff & Phelps Credit Rating Co. has reaffirmed all of its outstanding ratings on the Travelers Corporation ("Travelers") (NYSE: TIC) and its subsidiaries, and has also reaffirmed all the outstanding ratings of Primerica Corporation ("Primerica") (NYSE: PA) and its subsidiaries. This rating affirmation is in response to the announcement today that the two companies are engaged in discussions concerning a possible business merger. The merger of the two companies is viewed as positive in the long term due to the increased financial flexibility at Travelers and strategic fit with Primerica's other operations.
 Ratings reaffirmed for the Travelers Corporation include: senior debt rating of 'A' (Single-A); subordinated debt rating of 'A-' (Single- A-Minus), preferred stock rating of 'BBB+' (Triple-B-Plus), and a commercial paper rating of Duff-1. The 'AA-' (Double-A-Minus) claims paying ability rating of all the companies of the Travelers' Property and Casualty Group has been reaffirmed. The 'A+' (Single-A- Plus) claims paying ability of the Travelers Insurance Company as well as its Duff-1 commercial paper rating have been reaffirmed. Approximately $685 million in debt is affected by this rating action.
 Ratings affirmed for Primerica Corporation include: senior debt rating of 'A' (Single-A); subordinated debt rating of 'A-' (Single-A- Minus), preferred stock rating of 'A-' (Single-A-Minus), and a commercial paper rating of 'Duff-1'. Commercial Credit Company's senior debt rating of 'A' (Single-A) and commercial paper rating of Duff-1 is also affirmed. Approximately $2.8 billion in debt is affected by this rating action.
 The Travelers Property and Casualty Group of Companies consists of the Travelers Indemnity Company Intercompany Pool, as well as six additional companies: Bankers and Shippers Insurance Company, First Trenton Indemnity Company, The Constitution State Insurance Company, The Travelers Corporation, The Travelers Home and Marine Insurance Company, and the TravCo Insurance Company. Members of The Travelers Indemnity Intercompany Pool are: The Charter Oak Fire Insurance Company, The Phoenix Insurance Company, The Travelers Indemnity Company, The Travelers Indemnity Company of America, The Travelers Indemnity Company of Illinois, and The Travelers Indemnity Company of Rhode Island.
 -0- 9/22/93
 /CONTACT: Timothy A. Bienek, 312-368-3119, or Daryl R. Leehaug, 312-368-3124, both of Duff & Phelps Credit Rating Co./
 (TIC PA)


CO: Travelers Corporation; Primerica Corporation ST: Illinois IN: INS SU: RTG

TM -- NY090 -- 4888 09/22/93 17:06 EDT
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Publication:PR Newswire
Date:Sep 22, 1993
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