Fitch gives Centene notes BB+

Fitch Ratings said it rated Centene Corp.’s $1.8 billion senior unsecured note offering BB+.

“The $1.8 billion offering of senior notes will include an add-on to the June issuance of 2.45% senior notes due 2028 and new senior notes due 2031. The new issuances are rated at the same level as Centene's existing senior unsecured notes, which is one notch below the holding company issuer default rating (BBB-/positive) and reflects standard notching based on Fitch's rating criteria,” the agency said in a press release.

Proceeds are expected to be used to fund the repayment of debt.

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