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S&P keeps Sierra Health on positive watch
Standard & Poor's said it is keeping its BB+ counterparty credit rating on Sierra Health Services Inc. on CreditWatch with positive implications.
According to the agency, on March 12, UnitedHealth Group Inc. (A/stable/A-1) announced its plans to acquire Sierra for $2.6 billion in an all-cash deal.
"At that time, we put our rating on Sierra on CreditWatch positive because we viewed this deal as being beneficial to Sierra and we continue to do so," said S&P credit analyst Joseph Marinucci.
Sierra will become part of a significantly larger enterprise with a much stronger business and financial profile, the agency added.
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