On March 28, 2008, Standard&Poor's Ratings Services affirmed its 'A-' counterparty credit rating on UnitedHealth Group Inc. (NYSE:UNH) and its various counterparty credit and financial strength ratings on UNH's subsidiaries. (These subsidiaries are rated 'A', except for United HealthCare Insurance Co. and Golden Rule Insurance Co., which are rated 'A+', and Sierra Health Services Inc., which is rated 'A-'.) The outlook on UNH and its subsidiaries remains stable. The ratings are based on consolidated UNH's very strong, stable earnings profile and competitive position, favorable scale and diversification, effective management strategy and organizational depth, and excellent cash flow. Offsetting these strengths, UNH maintains aggressive financial policies, high levels of goodwill, and statutory capitalization that is below the level that
