S&P assigns WellPoint notes A-

Standard & Poor's said it assigned its A- senior unsecured debt rating to WellPoint Inc.'s $500 million zero-coupon notes issued privately on Aug. 21, 2007.

The notes have a final maturity of Aug. 22, 2022, and were issued with a yield to maturity of 5.264%, the agency said, adding that the notes also have a put option that allows the noteholder to require WellPoint (A-/negative/A-2) to repurchase the note at certain future dates.

WellPoint used the proceeds of this debt issuance for general corporate purposes, S&P said, adding that the counterparty credit rating on WellPoint is based on the company's very strong competitive positions in the managed-care industry, expanding product innovation and capabilities, excellent brand value, leading local market positions across numerous states, very strong and stable earnings from diversified sources, and good capitalization.

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