Fitch: CNO Financial outlook positive

Fitch Ratings said it has affirmed CNO Financial Group Inc.'s BB+ issuer default rating and insurer financial strength ratings for CNO's core insurance subsidiaries at BBB.

The outlook is positive.

According to Fitch, the affirmation CNO's ratings reflect the company's strong balance sheet fundamentals, improved financial flexibility and liability profile and recent financial performance that remains in line with expectations.

The positive outlook reflects Fitch's view that CNO's ratings could be upgraded over the next 12 to 18 months based on the company's ability to sustain recent improvements in earnings profile and balance sheet fundamentals.

The agency noted that its primary concern is CNO's large, albeit reduced, exposure to the individual long-term care insurance business.

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