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Share Name | Share Symbol | Market | Type |
---|---|---|---|
Humana Inc | NYSE:HUM | NYSE | Common Stock |
Price Change | % Change | Share Price | High Price | Low Price | Open Price | Shares Traded | Last Trade | |
---|---|---|---|---|---|---|---|---|
9.76 | 2.54% | 393.965 | 401.11 | 391.02 | 395.15 | 739,024 | 17:27:50 |
AM Best has assigned the Long-Term Issue Credit Ratings (Long-Term IR) of “bbb-” to Humana Inc.’s (Humana) (headquartered in Louisville, KY) [NYSE:HUM] recently announced $500 million 3.125% 10-year senior unsecured notes due 2029 and the $500 million 3.95% 30-year senior unsecured notes due 2049. The outlooks assigned to these Credit Ratings (ratings) are positive. AM Best expects Humana to use the proceeds from this offering to retire its forthcoming debt obligations due in 2019. Humana’s Long-Term Issuer Credit Rating of “bbb-”, its existing Long-Term IRs and the ratings of its insurance subsidiaries are unchanged.
AM Best expects Humana’s financial leverage to increase temporarily with the new issuance, but return to a range at or below 35% once the upcoming debts have matured. Interest coverage is expected to remain strong at over 10 times.
The positive outlook on the Long-Term IRs is reflective of the outlook change to Humana Inc. and the majority of its subsidiaries. Please refer to the July 10, 2019 press release for details.
This press release relates to Credit Ratings that have been published on AM 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 AM 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. For information on the proper media use of Best’s Credit Ratings and AM Best press releases, please view Guide for Media - Proper Use of Best’s Credit Ratings and AM Best Rating Action Press Releases.
AM Best is a global rating agency and information provider with a unique focus on the insurance industry. Visit www.ambest.com for more information.
Copyright © 2019 by A.M. Best Rating Services, Inc. and/or its affiliates. ALL RIGHTS RESERVED.
View source version on businesswire.com: https://www.businesswire.com/news/home/20190809005359/en/
Wayne Kaminski Senior Financial Analyst +1 908 439 2200, ext. 5061 wayne.kaminski@ambest.com
Christopher Sharkey Manager, Public Relations +1 908 439 2200, ext. 5159 christopher.sharkey@ambest.com
Sally Rosen Senior Director +1 908 439 2200, ext. 5280 sally.rosen@ambest.com
Jim Peavy Director, Public Relations +1 908 439 2200, ext. 5644 james.peavy@ambest.com
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