UnitedHealth Group Inc. Senior Notes Rated 'A+'

NEW YORK (S&P Global Ratings) Dec. 13, 2018--S&P Global Ratings said today that it has assigned its 'A+' debt rating to UnitedHealth Group Inc.'s (UNH) proposed fixed-rate senior unsecured notes issued in four tranches. The debt issuance does not affect our 'A+' long-term issuer credit rating on UNH. UNH will use the debt proceeds to repay commercial paper borrowings and for general corporate purposes. Upcoming capital needs include $750 million of 1.700% senior notes that mature in February 2019, and $500 million of 1.625% senior notes maturing in March 2019. We expect UNH's financial leverage to be about 40% on average in 2019-2020. We also project debt to EBITDA of 1.5x-2x and EBITDA fixed-charge coverage of 10x-15x in 2019-2020. RELATED

...NEW YORK (S&P Global Ratings) Dec. 13, 2018--S&P Global Ratings said today that it has assigned its 'A+' debt rating to UnitedHealth Group Inc.'s (UNH) proposed fixed-rate senior unsecured notes issued in four tranches. The debt issuance does not affect our 'A+' long-term issuer credit rating on UNH. UNH will use the debt proceeds to repay commercial paper borrowings and for general corporate purposes. Upcoming capital needs include $750 million of 1.700% senior notes that mature in February 2019, and $500 million of 1.625% senior notes maturing in March 2019. We expect UNH's financial leverage to be about 40% on average in 2019-2020. We also project debt to EBITDA of 1.5x-2x and EBITDA fixed-charge coverage of 10x-15x in 2019-2020. RELATED CRITERIA + General Criteria: Methodology For Linking Long-Term And Short-Term Ratings , April 7, 2017 + Criteria - Insurance - General: Methodology For Assessing Capital Charges For U.S. RMBS And CMBS Securities Held By Insurance Companies, Aug. 29,...

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