On June 18, 2007, Standard&Poor's Ratings Services assigned its 'A' senior unsecured debt rating to $1.5 billion 144a notes issued by UnitedHealth Group Inc. (NYSE:UNH) maturing in three-, 10-, and 30-year tranches. UNH will use the proceeds to refinance maturing debt and for general corporate purposes. The rating reflects UnitedHealth Group Inc.'s (UNH's) very strong earnings profile, very strong competitive position, strong diversification, effective management strategy, and strong financial flexibility. Slightly offsetting these strengths, UNH maintains high goodwill levels stemming from multiple acquisitions that will persist with the intended acquisition of Sierra Health Services Inc. for $2.6 billion. Statutory capitalization is good but below the level Standard&Poor's considers appropriate for the rating. UNH maintains strong access
