Fitch: Conventry still on positive watch

Fitch Ratings said that the ratings of Coventry Health Care, Inc. remain on ratings watch positive pending the close of Coventry's previously announced acquisition by Aetna Inc.

These ratings include the company's long-term issuer default rating of BBB and the BBB- ratings on the company's senior unsecured securities, the agency said.

The rating actions follow completion of Fitch's review of interim events leading to the acquisition's expected mid-2013 close.

Fitch said it placed Coventry's ratings on rating watch positive on Aug. 20, 2012 following the company's announcement that it had entered into a definitive agreement to be acquired by Aetna in exchange for Aetna common shares and cash totaling $5.7 billion.

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