Moody's gives CareMore loan B2

Moody's Investors Service said it assigned a B2 debt rating to CareMore Holdings, Inc.'s proposed $150 million senior secured bank credit facility, which consists of a $125 million seven year term loan and a $25 million six year revolving credit facility.

In conjunction with this rating, Moody's said it also assigned a Ba3 insurance financial strength rating to CareMore's regulated operating subsidiary, California Health Plan.

The outlook is stable.

Moody's noted that while CareMore has assumed Medicare health care insurance risk through risk-sharing capitation agreements since 1996, it assumed full-risk exposure in these capitation agreements only since 2002.

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