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| Prospect News home > News index > List of issuers W > Headlines for WellCare Health Plans, Inc. > News item |
S&P ups WellCare, off watch
S&P said it upgraded WellCare Health Plans upon the completion of Centene Corp.’s acquisition of the company to BBB- from BB. S&P also removed WellCare’s rating from CreditWatch with positive implications, where it was placed on March 27.
“With the close of this $17.3 billion transaction, we now view WellCare to be core to the Centene group. We expect the acquisition to support Centene's current business model and strengthen its presence in the overall government-sponsored market in the U.S. We are, therefore, aligning our ratings on WellCare to the same level as Centene,” said S&P in a press release.
The outlook is stable.
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