S&P rates Aetna debt A-

Standard & Poor's said it assigned its A- senior unsecured debt rating to Aetna Inc.'s $2 billion debt issuance, which consists of a mix of five-, 10-, and 30-year maturities.

Aetna will use the proceeds partially to fund its acquisition of Coventry Health Care Inc., which it expects to close in mid-2013.

The agency said it believes the acquisition makes strategic sense for Aetna because it will increase the diversity of Aetna's health insurance business portfolio, especially by adding membership and revenue in the faster-growing Medicare Advantage and managed Medicaid businesses.

The acquisition also augments Aetna's geographical diversity, adding business in key regions.

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