S&P assigns A- to Cigna notes

S&P said it assigned an A- debt rating to Cigna Corp.'s new senior unsecured notes, which are expected to be issued in three- and 10-year tranches.

“The debt issuance does not affect our A- long-term issuer credit rating on Cigna,” the agency said in a press release.

Cigna will use the debt proceeds for general corporate purposes, including the repayment of commercial paper and the refinancing of upcoming maturities. Any remaining proceeds will likely go toward the paydown of Cigna's upcoming $2.9 billion in senior notes due July 2023.

The outlook is stable.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.