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Fitch rates Elevance notes BBB
Fitch Ratings said it assigned a BBB rating to Elevance Health, Inc.'s (ELV) offering of senior notes across three-, 10-, and 30-year tranches.
“The rating on the issuance is equivalent to Fitch's ratings on ELV's currently outstanding senior notes,” the agency said in a statement.
The proceeds will go to general corporate purposes including refinancing or repurchasing debt. “The issuance is not expected to breach financial leverage downgrade sensitivities of sustained debt-to-EBITDA ratio above 3x or a financial leverage ratio (FLR) above 43%,” Fitch said.
The outlook remains stable.
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