Fitch: Aetna on watch

Fitch Ratings said that the ratings of Aetna Inc. remain on rating watch negative pending the close of the company's previously announced acquisition of Coventry Health Care, Inc.

Fitch had placed Aetna's ratings on rating watch negative on Aug. 20, 2012 following the company's announcement that it had entered into a definitive agreement to acquire Coventry in exchange for Aetna common shares and cash totaling $5.7 billion.

Since then Coventry shareholders have voted to formally adopt the agreement governing the acquisition, Aetna has issued $2 billion of senior unsecured securities to finance a portion of the acquisition, and Aetna has taken steps required to obtain necessary regulatory approvals, the agency said.

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