Fitch gives Anthem notes BBB

Fitch Ratings said it rated Anthem Inc.’s planned $3.5 billion of notes BBB. Anthem plans to sell notes in two-year, five-year, 10-year and 30-year maturities.

The new notes carry the same rating as outstanding senior notes.

A portion of the proceeds could be used to partially fund Anthem's acquisition of MMM Holdings, LLC, MMM Healthcare, LLC and affiliated companies from InnovaCare Health, LP.

“Fitch estimates the debt issuance will increase pro forma YE 2020 Debt-to-EBITDA to 2.9x and Debt-to-Total Capital to 42%, up from 2.5x and 38%, respectively at year-end 2020,” the agency said in a press release.

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