Moody’s rates Humana debt Baa3

Moody's Investors Service said it affirmed Humana Inc.'s debt ratings (senior debt at Baa3) and assigned a Baa3 senior unsecured debt rating to its expected roughly $1.75 billion debt issuance.

The A3 insurance financial strength ratings of Humana's operating subsidiaries, Humana Insurance Co, and Humana Medical Plan, Inc. were also affirmed.

The outlooks are stable.

Humana expects to use the net proceeds from the issuance to redeem the $500 million aggregate principal amount of its notes due 2016, to repurchase shares of common stock and for general corporate purposes.

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