S&P lifts Unum from junk

Standard & Poor's said it raised the counterparty credit and senior unsecured debt rating on Unum Group to BBB- from BB+.

The outlook is stable.

According to S&P, the actions reflect the group's maintenance of its dominant market position, improved insurance risk profile, operating profitability, enhanced investments quality and stronger capitalization through statutory earnings.

Offsetting these factors are somewhat slower growth rates across all operating segments, risks that economic recessionary pressures will increase disability claims and the historical volatility in its disability products, the agency said.

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