Moody's affirms Centene

Moody's Investors Service said it affirmed Centene Corp.'s senior unsecured debt at Ba3 and corporate family rating at Ba3.

The outlook remains stable.

Moody's said ratings reflect the company's concentration in the Medicaid market, acquisitive nature and relatively high financial leverage, offset by its multi-state presence, relatively stable financial profile, strong unregulated cash flows and adequate capitalization level.

Ratings also reflect the unique risks associated with the managed care Medicaid segment, the agency noted.

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