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S&P changes Centene outlook to negative
S&P said it changed its outlook for Centene Corp. to negative from stable and affirmed its BBB- issuer rating.
On Nov. 15, the agency published its revised criteria for analyzing insurers' risk-based capital and based on those criteria, Centene’s capital and earnings weakened, S&P said.
“The outlook revision to negative from stable reflects the potential for a one-notch downgrade in the next 12-24 months if the company's capital adequacy does not improve, as expected,” S&P said in a press release.
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