Moody's rates CNO Financial notes, loans Ba3

Moody's Investors Service said it assigned Ba3 senior secured debt ratings to CNO Financial Group, Inc.'s proposed secured credit facilities and senior secured notes, which, in aggregate, total $950 million.

Moody's also assigned a Ba3 corporate family rating to CNO.

The outlook is stable.

"CNO's recapitalization plan provides the company with an opportunity to reduce its cost of capital and extend the maturities of its near term debt," Moody's vice president Ann Perry said in a news release.

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