TMCnet News
A.M. Best Comments on Credit Ratings of Aetna Inc. Following Decision by U.S. District CourtA.M. Best has commented that the Financial Strength Ratings, Long-Term Issuer Credit Ratings and Long- and Short-Term Issue Credit Ratings of Aetna Inc. (Aetna) (headquartered in Hartford, CT) [NYSE:AET] and its subsidiaries remain unchanged. This comment by A.M. Best follows the decision of the U.S. District Court for the District of Columbia to block the merger between Aetna and Humana, Inc. (Humana). A.M. Best previously had taken rating actions on June 22, 2016 (see press release), following Aetna's issuance of $13 billion of debt to pre-fund the acquisition of Humana. A.M. Best will be conducting discussions with Aetna regarding the timing of the payment of the transaction termination fee; the applicable portion of the debt issued in 2016 in anticipation of the merger, which contains call provisions; as well as discussions o capital management for the future. Should Aetna choose to appeal the court's decision by the U.S. District Court, A.M. Best will monitor the appeal, as well as discuss business plans for the future and the potential impact of any new terms that could be required for the appeal on Aetna's ratings. This press release relates to Credit Ratings that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best's Credit Ratings. A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.
View source version on businesswire.com: http://www.businesswire.com/news/home/20170124006573/en/ |
