AM Best Assigns Issue Credit Ratings to Elevance Health, Inc.'s New Senior Unsecured Notes [Yahoo! Finance]
Elevance Health, Inc. (ELV)
Company Research
Source: Yahoo! Finance
Health) (Indianapolis, IN) newly issued $600 million, 5.15% senior unsecured notes, due 2029; $1 billion, 5.375% senior unsecured notes, due 2034 and $1 billion, 5.65% senior unsecured notes, due 2054. The outlook assigned to these Credit Ratings (ratings) is stable. The proceeds from these issues are expected to be used for general corporate purposes, including repayment of outstanding upcoming debt maturities and merger and acquisition activities. At first quarter 2024, the company had approximately $1.4 billion of commercial paper outstanding and debt maturities that totaled over $26 billion. Financial leverage as measured by AM Best was slightly over 41% as the debt issuances increased the ratio. However, Elevance Health manages its financial leverage to 40% on a long-term basis with some variation based on timing of debt repayment, and planned capital deployment, such as acquisition activity. Furthermore, Elevance Health has demonstrated strong interest coverage and operating c
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ELV
News
- Why Elevance Health, Inc. (NYSE:ELV) Could Be Worth Watching [Yahoo! Finance]Yahoo! Finance
- CMS to recalculate ratings for 2024 Medicare Advantage plans [Seeking Alpha]Seeking Alpha
- Medicare Updates Quality Ratings That Inform Insurers' Payments [BNN Bloomberg (Canada)]BNN Bloomberg
- Federal Government to revise Medicare Advantage Plans ratings [Yahoo! Finance]Yahoo! Finance
- CMS to recalculate Medicare Advantage quality ratings: report [Seeking Alpha]Seeking Alpha
ELV
Earnings
- 4/18/24 - Beat
ELV
Sec Filings
- 6/12/24 - Form 8-K
- 5/30/24 - Form 8-K
- 5/21/24 - Form 424B3
- ELV's page on the SEC website