UnumProvident teeters on brink of junk status
Sizeable losses force Moody’s and Fitch to put the insurer on review for downgrade
UnumProvident, the largest disability insurer in the US, could be the first US financial company to fall from grace by slipping to junk status. The Chattanooga, Tennessee-based company currently holds the lowest investment-grade rating from all three major rating agencies. Further clouding the company’s outlook, two of the agencies have placed UnumProvident on review for a possible downgrade after
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