S&P ups WellPoint

Standard & Poor's said it raised its counterparty credit and senior debt ratings on WellPoint Inc. to A- from BBB+.

At the same time, the agency said it affirmed its A+ counterparty credit and financial strength ratings on WellPoint's core subsidiaries and also affirmed its A counterparty credit and financial strength ratings on Greater Georgia Life Insurance Co.

The outlook on all these companies is stable.

"The raising of the ratings on the holding company is based on WellPoint's very strong earnings from multiple regulated operating subsidiaries, enhanced by the destacked legal organization as of Dec. 31, 2006," said S&P credit analyst Shellie Stoddard.

"The rating action is also based on our confidence in new management's capabilities and capital management strategies."

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