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Fitch keeps Anthem on watch
Fitch Ratings said it is maintaining the Negative Rating Watch on Anthem Inc.'s ratings, including the BBB assigned to its senior notes and the A+ insurer financial strength ratings assigned to certain insurance company subsidiaries.
The action follows the completion of a periodic review of Anthem’s ratings. Fitch had previously placed the ratings on Rating Watch Negative on July 24 following the company's announcement that it entered into an agreement under which it will acquire Cigna Corp.
Excluding the ratings-negative aspects of that planned acquisition, Fitch believes that this review would have resulted in the affirmation of Anthem’s ratings with a stable outlook.
The Negative Watch status reflects the negative effect the planned acquisition will have on Anthem’s financial leverage metrics and potential earnings disruptions that could arise in the short-term subsequent to the acquisition's close as Anthem’s integrates Cigna from an operational and management perspective.
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