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Moody's: MedImpact unchanged
Moody's Investors Service said there is no change to MedImpact Holding, Inc.'s B3 corporate family rating and Caa2 senior secured notes following the recent announcement of a potential merger between Harvard Pilgrim Healthcare, a significant customer of MedImpact, and Tufts Health Plan.
The outlook remains stable.
The agency said it is too early to determine the impact of a merger, should it occur.
Moody's said it understands that Tufts currently uses CVS/Caremark for its pharmacy benefits management services.
Because Harvard Pilgrim is a key customer of MedImpact, the agency said it will continue to monitor the situation closely. A termination of this contract could be material to the company's credit profile, Moody's said.
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