S&P rates Cigna notes A-

S&P said it assigned its A- debt rating to Cigna Corp.’s senior unsecured notes.

Cigna is offering the notes as part of a debt exchange to holders of existing subsidiary debt at Cigna Holding Co., Express Scripts Holding Co., and Medco Health Solutions Inc.

The ratings on the subsidiaries’ debt is unaffected, S&P said.

“The debt issuance does not affect our A- long-term issuer credit rating on Cigna – our rating remains on negative outlook due to the financial and integration risks associated with the Express Scripts acquisition,” said S&P in a press release.

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