The Standard & Poor’s Rating Service recently revisited the outlook that it had projected for the company known as Health Net Inc. In the results of the process, it confirmed the debt rating of the company. Health Net is a company that performs operations in the health care industry. It is a managed care company. In the operation of its business practices, the company provides health insurance policies for people throughout the nation. Roughly six million people have an insurance policy with Health Net.
On Tuesday, the Standard & Poor’s Rating Service announced that it still concludes the credit rating of the company to be the same as it was prior. The credit rating that the rating agency assigns to the company is BB. Health Net also owns several subsidiaries. Two of the subsidiaries owned by the company are Health Net of California Inc and Health Net Life Insurance Co. These subsidiaries received a credit rating of BBB- rating. Two other subsidiaries of the company include Health Net of Arizona Inc and Health Net Health Plan of Oregon Inc. These two subsidiaries earned a credit rating of BB+ by the Standard & Poor’s Rating Service.
During afternoon trading, the health insurance company received a boost in its stock rating. The stock rating rose by four percent during this period. The final stock price was 27.65 dollars. This was an increase of 1.01 dollars.
The Standard & Poor’s Rating Service improved the outlook of Health Net. Previously, the outlook of the company had been set to “Negative.” The new outlook of the company was announced to be “Stable.” A major contributing factor for the reason that the company had earned a “Stable” outlook was the fact that the company had improved its financial performance. It had done so throughout 2009 and throughout the first three quarters of 2010. The Standard & Poor’s Rating service expects that the company will continue to show improvement through 2010 and 2011.
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