Why system-config-securitylevel command exits with error 'ValueError: too many values to unpack' ?

Issue

• system-config-securitylevel command terminated with error 'ValueError: too many values to unpack'.
  Eg:

[root@host]# system-config-securitylevel
Traceback (most recent call last):
  File "/usr/share/system-config-securitylevel/system-config-securitylevel.py", line 18, in ?
    app.stand_alone()
  File "/usr/share/system-config-securitylevel/securitylevel.py", line 591, in stand_alone
    self.readFile()
  File "/usr/share/system-config-securitylevel/securitylevel.py", line 363, in readFile
    (port, proto) = pair.split(':')
ValueError: too many values to unpack