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Published on 1/30/2023 in the Prospect News Investment Grade Daily.

S&P rates Elevance notes A

S&P said it rated Elevance Health Inc.'s senior unsecured notes, which will be issued in three, 10-, and 30-year tranches A.

The rating is the same as the issuer rating and the rating on the $1.8 billion of notes the company sold in October.

Elevance plans to use the proceeds for general corporate purposes, including the refinancing of $500 million of senior unsecured notes due March 2023 and the acquisition of BioPlus, expected to close in the first half of 2023.

The outlook is stable.


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