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S&P: Group Health negative
Standard & Poor's said it affirmed its BB+ ratings on Group Health Cooperative. At the same time, the agency said it revised the outlook to negative from stable.
"The negative outlook reflects the downward revision in our 2012 earnings expectations for GHC, which stem primarily from the company's actual year-to-date operating performance," said S&P credit analyst Jon Reichert in a news release.
S&P said Group Health's results this year have been worse than expected, driven mainly by an increase in administrative expenses through Sept. 30, which significantly outpaced the company's revenue growth.
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