S&P: Anthem positive

Standard & Poor's said its A counterparty credit and financial strength ratings on Anthem Inc.'s core operating companies remain on CreditWatch with positive implications.

At the same time, S&P said that its A- counterparty credit rating on WellPoint Health Networks Inc. remains on CreditWatch with negative implications.

"There is increased uncertainty the acquisition of WellPoint Health Networks Inc. by Anthem Inc. will occur," explained S&P credit analyst Shellie Stoddard. "This is due to the denial of the deal by California Insurance Commissioner John Garamendi."

Upon closing of the merger, S&P said it will likely raise its counterparty and financial strength ratings on Anthem Inc.'s core operating companies to A+ from A, a level consistent with the ratings on WellPoint's core operating companies. S&P expects to lower the ratings on WellPoint Health Networks Inc. one notch to BBB+ from A-, which is consistent with the rating on Anthem Inc.

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