Moody’s rates CNO Financial’s subordinated debentures at Ba1(hyb); outlook stable
Moody's Investors Service ("Moody's") has assigned a Ba1(hyb) debt rating to the anticipated $150 million of subordinated debentures to be issued by CNO Financial Group, Inc. (CNO, senior debt at Baa3, stable outlook). The notes will be drawn under an existing shelf registration maturing in 2060. Th...CNO Financial Group is a holding company for a group of insurance companies. The company's Bankers Life segment underwrites, markets and distributes Medicare supplement insurance, interest-sensitive life insurance, life insurance, fixed annuities and long-term care insurance products. The company's Washington National segment underwrites, markets and distributes supplemental health and life insurance to middle-income consumers at home and at the worksite. The company's Colonial Penn segment markets primarily graded benefit and simplified issue life insurance directly to customers in the senior middle-income market through television advertising, direct mail, the internet and telemarketing.
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