Fitch analysts attributed the actions to a review of Anthem’s ratings and the insurer’s decision to terminate its $54 billion merger with Bloomfield, Conn.-based Cigna. Fitch said the ratings represent Anthem’s very strong business profile, good capitalization, strong financial performance and debt service capabilities.
In addition, Fitch removed the ratings from ratings watch negative. The rating outlook is negative. Fitch said the negative outlook is attributed to uncertainty surrounding Anthem’s run-rate financial leverage metrics in light of the potential resumption of the payer’s share repurchase efforts and adverse effects on leverage based on its terminated merger agreement with Cigna.
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BCBS of North Carolina eliminates 165 jobs
