New York, April 3 (FinanceEnquiry.com) – Standard & Poor’s Rating Services updated its outlook on WellPoint Inc (NYSE: WLP) from STABLE to POSITIVE, and assigned ‘A-/A-2′ counterparty credit rating.
Moreover, it affirmed ‘A+’ counter party credit and financial strength ratings on WellPoint’s core operating companies and ‘BBB’ financial strength rating on UNICARE Life & Health Insurance Co, which is a non-strategic subsidiary of WellPoint. The core factors guiding the affirmation and outlook revision include uninterrupted strength of its business profile, compared to its peer group and the sector overall.
In addition, operating performance, discretionary cash flow generation, liquidity and financial flexibility seem strong all together and highly supported by the diversity and scale of its core business lines. S&P believes that WellPoint’s fundamental credit strengths indicate the potential for a higher rating affirmation within 12 months.
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