Fitch Ratings affirmed the BBB insurer financial strength ratings of Centene Corp.'s insurance company units following the completion of Centene's periodic review of its financial and operating profile.
The units are Health Net of California Inc., Health Net of Arizona Inc. and Health Net Health Plan of Oregon Inc.
The ratings outlooks were revised to stable from negative.
The rating agency also affirmed and withdrew the BB long-term issuer default rating assigned to Health Net Inc.
Fitch said the ratings reflect Centene's good capitalization and business profile, and solid debt service capabilities and financial performance. The outlook revision to stable reflects the rating agency's heightened comfort that Centene's key financial metrics will continue to support the company's current ratings as it continues to integrate Health Net and responds to potential changes in the Medicaid market from the November elections, Fitch added.