S&P and Fitch Upgrade CNO Financial Group

Company now rated investment grade by all four ratings agencies

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Jun 25, 2019, 16:15 ET

CARMEL, Ind., June 25, 2019 /PRNewswire/ -- Two ratings agencies, S&P and Fitch recently upgraded the credit ratings of CNO Financial Group (NYSE: CNO). With these two upgrades, CNO Financial is now rated investment grade by all four leading ratings agencies – A.M. Best, Moody's, Fitch and S&P.

CNO Financial Group is the holding company for several national life and health insurers including Bankers Life and Casualty Company, Colonial Penn Life Insurance Company and Washington National Insurance Company.

"We are pleased that S&P and Fitch have recognized CNO for successfully reducing our exposure to legacy long-term care (LTC) liabilities with our 2018 LTC reinsurance transaction and acknowledged our improving operating performance and balance sheet strength," said Gary C. Bhojwani, chief executive officer. "We continue to focus on our strategic growth priorities and launching new products and services to fulfill the life and health insurance and retirement income needs of middle market consumers."

On June 21, 2019, S&P Global Ratings raised CNO's senior unsecured debt rating to 'BBB-' from 'BB+' and the financial strength rating of the company's operating subsidiaries to 'A-' from 'BBB+'. The rating outlook is stable.

On June 14, 2019, Fitch Ratings upgraded CNO's senior unsecured debt rating to 'BBB-' from 'BB+' and the financial strength rating of the company's operating subsidiaries to 'A-' from 'BBB+'. The rating outlook is also stable.

On October 4, 2018, Moody's Investors Service upgraded CNO's senior unsecured debt rating to 'Baa3' from 'Ba1' and the financial strength rating of the company's operating subsidiaries to 'A3' from 'Baa1'. The rating outlook is also stable.

On August 26, 2015, A.M. Best upgraded ratings of CNO Financial Group to A-. Read the full press release.

For more information on CNO, please visit www.CNOinc.com.

About CNO Financial Group
CNO Financial Group, Inc. (NYSE: CNO) is a holding company. Our insurance companies – principally Bankers Life and Casualty Company, Colonial Penn Life Insurance Company, and Washington National Insurance Company – primarily serve middle-income pre-retiree and retired Americans by helping them protect against financial adversity and provide for a more secure retirement. For more information, visit CNO online at CNOinc.com.

SOURCE CNO Financial Group