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S&P rates WellPoint notes A-
Standard & Poor's said that it assigned an A- senior debt rating to WellPoint Inc.'s (A-/stable/A-2) planned senior unsecured debt issuance, which consists of a mix of 5.5- and 10-year notes.
The company will use the offering proceeds mostly to prefund debt scheduled to mature throughout 2012.
This effective restructuring of its balance-sheet obligations will moderately enhance its near-term liquidity and financial flexibility, the agency said.
WellPoint's liquidity is very strong, with approximately $2.3 billion of cash and investments at the holding-company level through June 30, the agency noted.
The stable outlook on the long-term counterparty credit rating reflects the expectation that WellPoint will preserve its very strong market shares in its core market segments and that it will continue to have pricing flexibility in most of its geographies, the agency added.
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