Moody's gives Aetna notes A3

Moody's Investors Service said it assigned an A3 senior unsecured debt rating to Aetna Inc.'s (A3 for senior debt) issuance of $500 million of new long-term debt.

The outlook is stable.

The agency said that the debt issuance is a drawdown on the company's shelf registration, which it filed in December 2005, adding that the company plans to use the net proceeds to repay outstanding commercial paper.

Moody's stated that Aetna's financial leverage, debt including pension liability and operating leases to capital, will remain within the 30% to 35% range, which remains consistent with expectations for Aetna's current ratings.

Aetna's rating reflects the company's strong business profile driven by its strong national presence and brand name, large membership base, and its broad range of group and specialty products, the agency added.

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