A.M. Best Withdraws Ratings of Mercy Health Plans, Inc. and Mercy Health Plans of Missouri, Inc. Due to Mergers
August 30, 2011 2:49 PM
A.M. Best Co. has withdrawn the financial strength rating of B+ (Good) and issuer credit ratings of “bbb-” of Mercy Health Plans and Mercy Health Plans of Missouri, Inc. (both Chesterfield, MO), following the mergers of Mercy Health Plans into Coventry Health and Life Insurance Company and Mercy Health Plans of Missouri, Inc. into Group Health Plan, Inc., effective May 1, 2011.
Mercy Health Plans and Mercy Health Plans of Missouri, Inc. were former subsidiaries of Coventry Health Care Inc. (NYSE: CVH).
The principal methodology used in determining these ratings is Best's Credit Rating Methodology -- Global Life and Non-Life Insurance Edition, which provides a comprehensive explanation of A.M. Best's rating process and highlights the different rating criteria employed. Methodologies can be found at www.ambest.com/ratings/methodology.
Founded in 1899, A.M. Best Company is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com.
Copyright © 2011 by A.M. Best Company, Inc. ALL RIGHTS RESERVED.
A.M. Best Co.
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Jim
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