Moody's upgrades Amerigroup

Moody's Investors Service said it upgraded Amerigroup Corp.'s senior unsecured debt rating to Baa2 from Ba2 and the insurance financial strength ratings of its operating subsidiaries to A2 from Baa2.

Moody's said the changes follow the announcement that WellPoint, Inc. completed its acquisition of Amerigroup and that Amerigroup had become a wholly owned subsidiary of WellPoint.

The outlook is stable.

In the same rating action, Moody's withdrew the Ba2 corporate family rating at Amerigroup, as well as the provisional ratings on Amerigroup's multiple seniority shelf, which has been terminated.

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