S&P: Sierra Health on positive watch

Standard & Poor's said its BB+ counterparty credit rating on Sierra Health Services Inc. is remaining on CreditWatch, where it was placed on March 12, 2007, with positive implications.

According to S&P, UnitedHealth Group Inc. announced on March 12 that it planned to acquire Sierra for $2.6 billion in an all-cash deal.

The agency said it continues to view this deal as being beneficial to Sierra because the company will become part of a significantly larger enterprise with a much stronger business and financial profile.

The deal has been approved by key regulators in three states and completion of the merger remains subject to clearance under the Hart-Scott-Rodino Antitrust Improvements Act by the U.S. Department of Justice as well as other closing conditions, S&P noted.

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