Fitch: CNO note at BB

Fitch Ratings said it assigned a BB rating to CNO Financial Group, Inc.'s recently priced $275 million senior secured note.

According to Fitch, the newly rated debt is part of the holding company recapitalization plan that CNO Financial announced on Sept. 4.

The agency said it estimates the financial leverage ratio under the new plan will increase to 22% on a pro forma basis from 16.7% at June 30.

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