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Published on 5/17/2005 in the Prospect News Convertibles Daily.

S&P: WellPoint, Anthem up to positive

Standard & Poor's said it revised its outlook on WellPoint Inc. (formerly Anthem Inc.) to positive from stable and affirmed its BBB+ counterparty credit and senior debt ratings on the company.

At the same time, S&P revised its outlook on Anthem Holding Corp. (intermediary holding company retaining $800 million of senior long-term debt) to positive from stable and affirmed its BBB+

counterparty credit and senior debt ratings on the company.

In addition, S&P affirmed its counterparty credit and financial strength ratings and maintained the stable outlook on WellPoint's operating subsidiaries.

S&P said the outlook revision reflects progress in both the integration of WellPoint Health Networks Inc. and stronger balance sheet fundamentals.


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