Moody's affirms HealthSpring

Moody's Investors Service said it affirmed the debt ratings of HealthSpring, Inc. (senior secured at Ba3; stable outlook) and the Ba1 insurance financial strength ratings of its operating subsidiaries.

The outlook is stable.

Moody's noted that it also withdrew the Ba1 insurer financial strength rating of Texas HealthSpring, LLC for business reasons. This operating subsidiary was merged into HealthSpring Life & Health Insurance Co., Inc., effective at the end of 2010.

The agency stated that the ratings affirmation reflected the successful integration of Bravo Health, which was acquired at the end of 2010, along with HealthSpring's strong Medicare Advantage membership gain during the 2011open enrollment period.

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