Moody’s confirms Health Net

Moody's Investors Service said it confirmed the Ba2 senior debt rating of Health Net, Inc. and the Baa2 insurance financial strength rating of Health Net's operating subsidiary, Health Net of California.

The outlook is negative.

This action concludes the review initiated on July 2, 2015, when Centene Corp. announced it would be acquiring Health Net.

Moody's anticipates that Centene will assume and guarantee Health Net's $400 million of outstanding debt upon the close of the transaction. The transaction is expected to close early in 2016.

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