NEW YORK (Standard&Poor's) July 6, 2005--Standard&Poor's Ratings Services today said it affirmed its 'A' counterparty credit rating on UnitedHealth Group Inc. (NYSE:UNH) after UNH announced that it plans to acquire PacifiCare Health Systems Inc. (NYSE:PHS). The outlook on UNH remains stable. At the same time, Standard&Poor's placed its 'BBB-' counterparty credit rating on PHS on CreditWatch with positive implications. "UNH's plan to acquire PHS, a transaction valued at $9.0 billion, will not affect the ratings on UNH but does moderately heighten operational and financial risk at UNH because of the cumulative acquisitions made over the past two years and the premium price it is paying for PHS in terms of earnings multiples and amount
