Fitch to rate WellPoint notes BBB+

Fitch Ratings said it expects to assign a BBB+ rating to WellPoint, Inc.'s planned issuance of new senior unsecured notes.

The BBB+ rating is equivalent to Fitch's ratings on WellPoint's current outstanding senior unsecured notes. Fitch maintains an A- issuer default rating on WellPoint and AA- insurer financial strength ratings on various WellPoint subsidiaries.

The outlook on both the issuer default rating and insurer financial strength ratings is negative.

Fitch said it expects the notes will be issued with a mix of maturities and that proceeds will be used to fund repurchases of a meaningful amount of comparatively high-coupon outstanding senior unsecured securities and for general corporate purposes.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.