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Moody’s rates Horace Mann notes Baa2
Moody's Investors Service said it assigned a Baa2 rating to $300 million of five-year senior unsecured notes to be sold by Horace Mann Educators Corp.
The agency affirmed Horace Mann’s Baa2 ratings on March 1.
The issuer will use the proceeds to repay borrowings under its revolving credit facility and for general corporate purposes. As of June 30, Horace Mann had $249 million outstanding under its $325 million revolving credit facility, which matures in July 2026.
The outlook is unchanged at negative.
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