Add to balance / Manage account | User: | Log out |
Prospect News home > News index > List of issuers C > Headlines for Coventry Health Care Inc. > News item |
S&P rates Coventry notes BBB
Standard & Poor's said it assigned its BBB senior unsecured debt rating to Coventry Health Care Inc.'s $300 million senior unsecured notes due August 2014.
Proceeds will be used to help finance its pending acquisition of Vista Healthplans for $685 million.
The rating reflects Coventry's very strong earnings and cash-flow profile, geographic diversity and strong liquidity, according to S&P.
Offsetting factors include the company's very modest near-term organic health plan growth, material level of intangibles relative to equity and its acquisition-oriented growth strategy, the agency said.
Debt leverage and interest coverage are expected to remain conservative for the ratings, S&P said.
© 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.