S&P ups Centene

Standard & Poor's said it raised the counterparty credit and senior debt ratings on Centene Corp. to BB from BB-.

The outlook on the company is stable.

Centene's key holding company credit metrics have improved and remain conservative for the rating, S&P said.

The company derives relatively strong internal cash-flow-generating capacity from its expanding operational scale, the agency said. Centene has a good competitive position in the managed Medicaid market with an increasing presence in 10 states, which helps to mitigate its relatively narrow market-segment focus on government-sponsored managed Medicaid programs.

The stable outlook reflects expectations that Centene will sustain its overall business and financial flexibility strengths and is well positioned to continue to execute on its organic and geographic diversification growth strategy, the agency said.

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