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A.M. Best Withdraws Ratings of University Health Plans, Inc. Following Sale of Assets |
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Summary
OLDWICK, N.J.--(March 16, 2010/V-Newswire)..A.M. Best Co. has withdrawn the financial strength ratings (FSR) of B (Fair) and issuer credit rating (ICR) of “bb” of University Health Plans, Inc. (Edison, NJ) and assigned a category of NR-3 (Rating Procedure Inapplicable) to the FSR and “nr” to the ICR. The rating actions follow the March 1, 2010 announcement by Centene Corporation [NYSE: CNC], the parent of University Health Plans, Inc., that it had completed the sale of the Medicaid assets of University Health Plans, Inc. to AMERIGROUP New Jersey Inc. For Best’s Credit Ratings, an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. The principal methodologies used in determining these ratings, including any additional methodologies and factors that may have been considered, can be found at www.ambest.com/ratings/methodology. Founded in 1899, A.M. Best Company is a global full-service credit rating organization dedicated to serving the financial and health care service industries, including insurance companies, banks, hospitals and health care system providers. For more information, visit www.ambest.com. |
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