Moody's rates WellPoint notes Baa1

Moody's Investors Service said it has assigned a Baa1 senior unsecured debt rating to WellPoint, Inc.'s issuance of $1 billion of new long-term debt.

The outlook is negative.

The debt issuance is a draw on the company's shelf registration, which it filed in Dec. 2008, the agency added.

WellPoint expects to use the net proceeds for general corporate purposes including repayment of short-term debt and common stock re-purchases, Moody's noted.

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