S&P gives WellPoint notes BBB+

Standard & Poor's said it assigned its BBB+ senior unsecured debt rating to WellPoint Inc.'s $2.7 billion senior unsecured notes, which are being issued in three tranches: $700 million 5.0% notes maturing Jan. 15, 2011, $1.10 billion 5.25% notes maturing 2016 and $900 million 5.85% notes maturing 2036.

S&P noted the rating reflects the company's leadership position in the managed care industry, extremely strong earnings from diversified markets, leading-edge technology, operational strength and efficiency and very strong capitalization.

These positive factors are partially offset by the accumulation of goodwill and intangibles associated with the merger between Anthem Inc. and WellPoint Health Networks Inc. and the acquisition of WellChoice Inc., which is a qualitative negative factor related to the organization's overall capitalization, the agency added.

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