S&P may lower Health Net

Standard & Poor's said it placed its BB+ counterparty credit rating on Health Net Inc. and its various counterparty credit and financial strength ratings on Health Net's subsidiaries on CreditWatch with negative implications.

S&P said the ratings are being placed on CreditWatch negative in connection with Health Net's announced year-end 2004 financial results, which included substantial charges that were in excess of S&P's expectations. These charges resulted in weak consolidated profitability, diminished interest coverage, and growing concern about the health plan segment's earnings quality and statutory capital adequacy per S&P's model.

© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere. For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.