| Add to balance / Manage account | User: | Log out |
| Prospect News home > News index > List of issuers W > Headlines for WellCare Health Plan Inc. > News item |
S&P rates WellCare add-on BB
Standard & Poor’s said it assigned a BB debt rating to WellCare Health Plan Inc.’s $300 million add-on to its existing 5¾% senior unsecured notes due 2020.
The proceeds will be used for general working capital purposes, potential organic growth and debt-maturity management, S&P said.
The company’s current debt structure also consists of a $300 million 2¼% term loan due 2016. This also will strengthen the company’s liquidity position, the agency said.
Over the next two years, S&P said it expects the company to manage its financial leverage in the 35% to 40% range after it repays its term loan in 2016.
© 2015 Prospect News.
All content on this website is protected by copyright law in the U.S. and elsewhere.
For the use of the person downloading only.
Redistribution and copying are prohibited by law without written permission in advance from Prospect News.
Redistribution or copying includes e-mailing, printing multiple copies or any other form of reproduction.