Moody's rates Unum notes Ba1

Moody's Investors Service said it assigned a Ba1 debt rating to the $300 million fixed-rate senior unsecured notes due 2016 to be issued by Unum Group. Moody's does not rate the company's $250 million revolving credit facility.

The outlook is stable.

The proceeds are expected to be used principally to repay $225 million of debt maturing in 2011.

The agency said that Unum's Ba1 senior debt rating reflects the company's leading market share in the group long-term and individual disability markets.

These strengths are tempered by the volatility of the group and individual disability businesses, continuing strong competition in the group disability and group life markets, moderate financial leverage and the susceptibility to earnings compression, Moody's said.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.