Moody's upgrades CNO

Moody's Investors Service said it upgraded CNO Financial Group's senior secured credit facility and senior secured notes to B1 from B2 and its senior unsecured convertible debentures to B2 from Caa1.

The outlook is stable. This action concludes the review for upgrade that began on Nov. 30.

"The upgrade of CNO's debt follows the successful refinancing of the company's bank debt, which reflects improvement in the company's capital structure, particularly a better laddering of debt maturities," Moody's vice president Ann Perry said in a statement.

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