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Moody’s rates UnitedHealth debt A3
Moody's Investors Service said it assigned an A3 senior unsecured debt rating to UnitedHealth Group Inc.’s planned issuance of about $4 billion of senior unsecured debt due in June 2021, 2023, 2028 and 2048.
Net proceeds are expected to be used to repay commercial paper borrowings and for general corporate purposes, which may include redeeming or repurchasing outstanding securities or refinancing debt.
The planned issuance constitutes a takedown from UnitedHealth's shelf registration filed in February 2017.
The outlook is stable.
Moody’s said the ratings are based primarily on the company's strong business profile driven by its national presence and brand name, large membership base and its broad diverse benefits and services product offerings and a significant level of unregulated revenue.
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