Rating agency A.M. Best has affirmed the a+ senior debt rating and the shelf securities registered by Philadelphia's CIGNA Corp, and affirmed the a subordinated debt and a- preferred securities ratings. The financial strength ratings of the group's life and health insurance and HMO subsidiaries were also affirmed, with a stable outlook.
The rating agency said the debt ratings reflect CIGNA's excellent financial flexibility, supported by its moderate financial leverage and strong fixed charge coverage.
It also said that the financial strength ratings of CIGNA's life and health insurance and HMO subsidiaries reflect the corporation's status as one of the largest publicly-traded insurance organizations in the United States.
