A.M. Best Company
A.M. Best Assigns Ratings to WellPoint, Inc.’s Senior Unsecured Notes and Anthem Life & Disability Insurance Company
Published in State and Local Health Law Weekly, February 19th, 2009
A.M. Best Co. has assigned debt ratings of “bbb+” to $400 million 6.00% senior unsecured notes due February 2014 and $600 million 7.00% senior unsecured notes due February 2019 of WellPoint, Inc. (WellPoint) (Indianapolis, IN) [NYSE: WLP]. In addition, A.M. Best has assigned a financial strength rating of A (Excellent) and an issuer credit rating of “a+” to WellPoint’s subsidiary, Anthem Life & Disability Insurance Company (ALDIC) (New York, NY). The outlook assigned to all ratings is stable.
The proceeds from the debt offerings will be used for working capital and for general corporate purposes. In addition, the proceeds may be used for repayment of short-term debt and...
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