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Stock impact report

AM Best Assigns Issue Credit Rating to Unum Group’s New Senior Unsecured Notes

Unum Group (UNM) 
Last unum group earnings: 2/4 04:15 pm Check Earnings Report
US:NYSE Investor Relations: investors.unum.com
Company Research Source: Business Wire
OLDWICK, N.J.--(BUSINESS WIRE)--AM Best has assigned a Long-Term Issue Credit Rating (Long-Term IR) of “bbb+” (Good) to the recently issued $300 million of 5.250% senior unsecured notes due Dec. 15, 2035, issued by Unum Group (Unum) (headquartered in Chattanooga, TN) [NYSE: UNM]. The outlook assigned to this Credit Rating (rating) is stable.The proceeds will be used for general corporate purposes, as well as repayment of the $275 million aggregate principal amount of outstanding senior unsecured notes that matured on Nov. 5, 2025. The assignment of the Long-Term IR considers the rating profile of Unum’s principal insurance subsidiary units, as well as the parent company’s financial leverage, coverage and overall debt servicing profile, and the application of appropriate notching to reflect structural subordination of the holding company’s senior unsecured debt.Unum’s financial leverage, as calculated by AM Best, was between 24% and 25% at year-end 2024 and will remain in that rang Show less Read more
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