Moody's lowers WellPoint

Moody's Investors Service said it downgraded WellPoint, Inc.'s senior debt rating to Baa2 from Baa1 and the insurance financial strength ratings of its operating subsidiaries to A2 from A1.

The outlook is stable.

Moody's said the downgrades follow WellPoint's announcement that it entered into a definitive agreement to acquire Amerigroup Corp. for roughly $4.9 billion.

The transaction, which is subject to regulatory approval, is expected to close in the first quarter of 2013.

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