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S&P: CNO Financial view to stable
S&P said it revised the outlook on CNO Financial Group Inc. and its core operating subsidiaries to stable from negative.
At the same time, the agency affirmed the ratings on CNO and its subsidiaries, including the BB+ long-term counterparty credit and BBB+ financial strength ratings.
The ratings on CNO's subsidiaries include those on core operating subsidiaries Bankers Conseco Life Insurance Co., Bankers Life & Casualty Co., Washington National Insurance Co., and Colonial Penn Life Insurance Co.
"The outlook revision on CNO reflects the successful recapture of a closed block of long-term care (LTC) insurance from Beechwood Re," S&P credit analyst Neal Freedman said in a news release.
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