S&P rates Centene notes BB

Standard & Poor's said its BB rating on Centene Corp.'s $250 million senior unsecured notes maturing June 1, 2017, remains unchanged after the company issued a $150 million add-on to the notes.

The agency said it believes that Centene has a good competitive position in the managed Medicaid market with a growing presence in this market segment, which helps to mitigate its relatively narrow market-segment focus on government-sponsored managed Medicaid programs.

S&P said it expects the company to continue to grow and generate stable cash flow in the intermediate term to meet its debt-service requirements and pay for expenses related to expansion into new markets.

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