The rating action reflects Fitch’s concern about the potential operational and/or earnings disruptions that could arise as Aetna and Humana are integrated. Fitch is also concerned about Aetna’s expected financial leverage metrics after the transaction is closed.
If the financing for the acquisition is completed as currently anticipated, Fitch expects to downgrade Aetna’s ratings by one notch.
Fitch also identified the strengths of the transaction. The rating agency said it views the combination of the two major health insurers “as strategically beneficial to both organizations.”
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