AM Best has assigned Long Term Issue Credit Ratings of 'bbb+' to the newly issued senior unsecured notes of
The offering consists of
The proceeds are expected to be utilized for general corporate purposes, including debt repayment, share repurchases and acquisitions, which may include the recently announced acquisition of
The new issuance will increase Anthem's financial leverage to 41.6%, as calculated by AM Best, compared with approximately 38% at year-end 2020. Interest coverage remains good at over eight times. Anthem's management expects financial leverage to moderate slightly by year-end 2021 and to remain within the target of 40%. Anthem continues to maintain strong liquidity with access to
Anthem continues to report double-digit revenue growth and strong earnings in 2020. Profitability measures remain robust; however, they have fluctuated somewhat, driven in part by the investments in building proprietary pharmacy benefit management capabilities under IngenioRX. Anthem continues to benefit from its leading market position supported by its
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