Moody’s assigns Molina notes Ba3

Moody’s Investors Service said it assigned a Ba3 rating to the planned issuance of $650 million in new Molina Healthcare, Inc. senior unsecured notes with a 10-year tenor.

“According to Moody’s, Molina’s Ba3 debt rating reflects the company’s solid earnings momentum, competitive margins and strong position in the Medicaid segment. On Oct. 6, 2020, Moody’s upgraded Molina to Ba3 from B2, a reflection of Molina’s sustained improvement in results since a previous upgrade in April 2019,” Moody’s said in a press release.

The proceeds will be used to pre-pay $330 million in senior unsecured notes due in 2025 and general corporate purposes.

The outlook on Molina and its affiliates is stable.

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