Moody’s rates Cigna notes Baa1

Moody's Investors Service said it assigned a Baa1 senior unsecured debt rating to the Cigna Group's anticipated issuance of senior unsecured debt, due in 2029, 2031, 2034 and 2054.

The rating is in line with those on Cigna’s outstanding senior unsecured notes.

The proceeds will be used to pay for the $2.25 billion cash tender offers, with the rest used to fund the repayment of the company's $500 million notes maturing in March, any non-tendered notes maturing in June and for general corporate purposes, which may include repayment of indebtedness and repurchases of shares of common stock.

The outlook is stable.

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