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Fitch Ratings
Fitch Affirms Ratings of Health Net; Outlook Negative
August 24th, 2008
Fitch Ratings has affirmed the Issuer Default Rating (IDR) and Insurer Financial Strength (IFS) ratings of Health Net, Inc. (Health Net) and its insurance operating subsidiaries (detailed rating list appears below). The Outlook on Health Net's ratings remains Negative. Today's rating action considers developments related to Health Net's operating performance in the first quarter of 2008 (1Q08), which resulted in the company reporting a $51 million pre-tax loss for the quarter, as well as ongoing challenges that are expected to place moderate pressure on earnings for the year. The 1Q08 loss was driven in part by $82.4 million in pre-tax charges: $43.2 million of which is...
Source: Pharma Investments, Ventures & Law Weekly (2008-08-24)
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