A.M. Best Places Ratings of CHA HMO, Inc. Under Review With Positive Implications.OLDWICK, N.J. -- A.M. Best Co. has placed the financial strength rating of B+ (Very Good) under review and has assigned as·sign tr.v. as·signed, as·sign·ing, as·signs 1. To set apart for a particular purpose; designate: assigned a day for the inspection. 2. an issuer credit rating of "bbb-" to CHA n. 1. Tea; - the Chinese (Mandarin) name, used generally in early works of travel, and now for a kind of rolled tea used in Central Asia. A pot with hot water . . . made with the powder of a certain herb called chaa, which is much esteemed. - Tr. J. HMO HMO health maintenance organization. HMO n. A corporation that is financed by insurance premiums and has member physicians and professional staff who provide curative and preventive medicine within certain financial, , Inc. (CHA Health) (Lexington, KY). Both ratings are under review with positive implications. These positive rating implications follow Humana Inc.'s (NYSE NYSE See: New York Stock Exchange : HUM) announcement that its subsidiary, Humana Health Plan, Inc. (Humana) (Louisville, KY) has signed a letter of agreement with CHA Health to acquire CHA Health. Humana's creditworthiness Creditworthiness The condition in which the risk of default on a debt obligation by that entity is deemed low. Creditworthiness Eligibility of an individual or firm to borrow money. and excellent financial strength are driving CHA Health's rating outlook change. The transaction is expected to close at the end of first quarter 2006, subject to regulatory approval. Terms of the agreement were not disclosed. The transaction expands Humana's presence and commitment across Kentucky. The company will compete for commercial business throughout Kentucky, especially in the areas outside the population centers of Louisville, Lexington and northern Kentucky. For Best's Ratings Best's rating A rating A.M. Best Co. assigns to insurance companies based on the company's ability to meet its obligations to its policyholders. , an overview of the rating process and rating methodologies, please visit www.ambest.com/ratings. For current Best's Ratings, independent data and analysis on more than 1,050 health companies and A.M. Best groups, please visit www.ambest.com/health. A.M. Best Co., established in 1899, is the world's oldest and most authoritative insurance rating and information source. For more information, visit A.M. Best's Web site at www.ambest.com. |
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