On April 24, 2008, Standard&Poor's Ratings Services revised its outlook on UnitedHealth Group Inc. (NYSE:UNH) to negative from stable and affirmed its 'A-' counterparty credit rating on UNH. At the same time, Standard&Poor's affirmed its various counterparty credit and financial strength ratings on UNH's subsidiaries (see ratings list), and the outlook on those units remains stable. The negative outlook on UNH reflects that the rating could be lowered over the next 12 to 24 months. This is based on our view that UNH's guidance revision on April 22 confirms our own expectations of weaker financial performance in 2008 driven by a more challenging operating environment. The negative outlook is specific to the holding company because high
