Moody’s downgrades Molina debt to B2

Moody's Investors Service said it downgraded the senior unsecured debt ratings of Molina Healthcare, Inc. to B2 from Ba3 and the insurance financial strength ratings of six of Molina's regulated operating subsidiaries to Ba1 from Baa3.

The outlook on Molina and its rated operating subsidiaries remains negative.

Moody’s said the actions reflect its assessment of a broadly weaker credit profile at Molina based on poor financial results, as well as the potential for operational challenges as the company undertakes a company-wide restructuring and expense-cutting program.

© 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.