On Nov. 14, 2007, Standard&Poor's Ratings Services assigned its 'A-' senior unsecured debt rating to UnitedHealth Group Inc.'s (NYSE:UNH) $1.6 billion 144a notes. The notes will be issued in four tranches, maturing in three, five, 10, and 30 years. UNH will use the proceeds to fund working capital, finance acquisitions and common share repurchases, refinance maturing debt, and for general corporate purposes. The rating is 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 generation. Offsetting these strengths, UNH maintains aggressive financial policies, high levels of goodwill, and statutory capitalization that are below the level that Standard&Poor's considers appropriate
