(The following statement was released by the rating agency)
Rating Action On Sept. 21, 2012, Standard & Poor's Ratings Services affirmed its 'Api' counterparty credit and financial strength ratings on Tennessee Farmers Life Insurance Co. (TFL).
The ratings on TFL reflect the company's well-balanced product portfolio and strong capital adequacy as measured by our models. TFL's limited geographic presence (100% of its business is written in Tennessee) somewhat offsets these strengths.
TFL is a subsidiary of Tennessee Farmers Mutual Insurance Co., which is based in Columbia, Tenn. We rate TFL on a stand-alone basis.
Related Criteria And Research Ratings Bearing A "pi" Subscript: Methodology And Assumptions, Feb. 9, 2011 Ratings List Ratings Affirmed Tennessee Farmers Life Insurance Co. Counterparty Credit Rating Financial Strength Rating Api
(Caryn Trokie, New York Ratings Unit)