S&P changes Centene outlook

S&P said it affirmed its BB+ holding company long-term issuer credit rating on Centene Corp. and revised its outlook to positive from stable.

The agency said the revision is driven by a view that Centene's business profile has adequate diversity, both in terms of product lines and geographic presence, which could support an investment-grade rating.

“Centene has increased its geographic and product diversification through both organic and inorganic growth,” S&P said in a news release.

“The positive outlook indicates that we could upgrade Centene if it maintains its business diversification, successfully completes the Fidelis acquisition and keeps financial leverage and capitalization in line with our expectations.”

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