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S&P: Humana unchanged
Standard & Poor's said that Humana Inc.'s (BBB/stable) announcement that it has signed a definitive agreement to purchase the Medicare Advantage individual HMO business of UnitedHealth Group Inc. (A-/stable/A-2) will have no effect on the Humana ratings.
The agency noted that the Department of Justice has approved the transaction, but it is still subject to regulatory approvals from the Center for Medicare and Medicaid Services and the Nevada Division of Insurance.
According to S&P, the transaction price is about $185 million in cash, which Humana will likely finance through a combination of cash and debt.
The agency said that it expects that the transaction will have no material impact on Humana's 2008 earnings, debt leverage, or interest coverage.
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