Moody's lifts Oxford Health from junk

Moody's Investors Service said it upgraded the senior secured rating of Oxford Health Plans Inc. to Baa3 from Ba2 and upgraded the issuer rating of Oxford to Ba1 from Ba3.

Moody's views the outlook as stable.

Moody's said the upgrades are a result of the sustained improvement in Oxford's operating performance, financial fundamentals, and liquidity. They also reflect its good market presence in the New York area and its strong management team.

Moody's said these strengths are somewhat mitigated by relatively flat membership growth over the last several years and Oxford's limited geographic diversity in a very competitive and regulated market.

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