Moody’s gives Baa2 to Cigna notes

Moody's Investors Service said it assigned Baa2 ratings to the anticipated issuance of new Cigna Corp. unsecured debt with maturities of 10, 20 and 30 years.

This issuance will refinance an equivalent amount of debt maturing between 2021 and 2023, which totaled about $11.5 billion as of Dec. 31. Total debt outstanding will remain unchanged, but this transaction strengthens financial flexibility through 2023, the agency said.

The outlook on Cigna and its subsidiaries is stable.

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