Moody's lifts Amerigroup

Moody's Investors Service said it has upgraded the senior debt rating of Amerigroup Corp.'s senior secured credit facility to Ba2 from Ba3.

Moody's said it also upgraded Amerigroup's corporate family rating to Ba3 from B1 and the insurance financial strength ratings of Amerigroup Texas Inc., Amerigroup MD Inc., Amerigroup FL Inc., and Amerigroup NJ to Baa3 from Ba1.

The outlook is stable.

The rating agency said that the upgrade reflects the better than expected terms of the settlement agreement Amerigroup finalized in August with respect to a qui tam action filed against the company.

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