Fitch rates Unum notes BBB

Fitch Ratings said it assigned a BBB rating to Unum Group’s issuance of new senior unsecured notes due 2021 and 2042.

The ratings are equivalent to the ratings assigned to the company’s existing senior unsecured notes and reflect standard notching based on the agency’s rating criteria, the agency said.

The proceeds will be used for general corporate purposes, including the repayment of maturing debt, Fitch said.

The ratings reflect the company’s strong, stable operating performance in its core businesses, moderate investment risk, solid capital and liquidity at both the insurance subsidiary and holding company level, the agency said.

The ratings also reflect its leadership position in the U.S. employee-benefits market, Fitch said.

The ratings also consider the impact of the low interest-rate environment on the company’s ongoing businesses, competitive challenges and modest improvement in the performance of its U.K. business, the agency said.

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