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CNO Financial Upgraded by S&P After Wilton Deal

CNO Financial Group Inc. was upgraded by Standard & Poor’s after the sale of a life insurance unit that was no longer issuing new policies.

The grade was lifted to BB+ from BB because the divestiture to Wilton Re decreased earnings volatility “creating less stress on the group to provide capital infusions,” the ratings firm said today in a statement on the Carmel, Indiana-based insurer.