AMERIGROUP Corporation -- Moody's upgrades AMERIGROUP (sr. debt to Baa2) following acquisition by WellPoint
New York, December 27, 2012 -- Moody's Investors Service has upgraded AMERIGROUP Corporation's (AMERIGROUP's) senior unsecured debt rating to Baa2 from Ba2 and the insurance financial strength (IFS) ratings of its operating subsidiaries (see list below) to A2 from Baa2 following the announcement that WellPoint, Inc. (WellPoint; NYSE: WLP, A2 for IFS, stable outlook) had completed its acquisition of AMERIGROUP and that AMERIGROUP had become a wholly-owned subsidiary of WellPoint. The outlook on these ratings is stable. In the same rating action, Moody's has withdrawn the Ba2 corporate family rating at AMERIGROUP, as well as the provisional ratings on AMERIGROUP's multiple seniority shelf which has been terminated.
