Moody’s rates Unum’s notes Baa2

Moody’s Investors Service said it assigned a Baa2 rating to Unum Group’s $450 million of 4.5% 30-year senior unsecured notes. Unum’s senior debt is rated Baa2.

Proceeds are expected to be used to tender higher coupon notes due 2038 ($226.5 million outstanding) and the remainder used to refinance $350 million of senior debt which matures in 2021, the agency said.

The outlook is stable.

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