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CareMore Holdings Inc. 'B+' Rating Put On CreditWatch Positive After Announcement Of Acquisition By WellPoint Inc. Jun 11
Standard & Poors, June 2011
Abstract
WellPoint Inc. (A-/Stable/A-2) has announced that it has entered into an agreement to acquire CareMore Holdings Inc. As a result, we have placed the 'B+' counterparty credit rating on CareMore on CreditWatch with positive implications. We do not expect this transaction to affect our ratings on WellPoint. NEW YORK (Standard & Poor's) June 8, 2011--Standard & Poor's Ratings Services said today that it placed its 'B+' counterparty credit rating on CareMore Holdings Inc. on CreditWatch with positive implications. The CreditWatch placement reflects CareMore's anticipated acquisition by a higher-rated entity (WellPoint Inc.), which likely will result in an upgrade of up to six notches. The acquisition is expected to close in the second half of 2011. 'We will continue to monitor...
Companies mentioned in this report are: CareMore Holdings Inc.,WellPoint Inc.
Action: On CreditWatch:Positive
Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.
Research type: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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