A.M. Best Co. has withdrawn the financial strength ratings (FSR) of B (Fair) and issuer credit rating (ICR) of “bb” of University Health Plans, Inc. (Edison, NJ) and assigned a category of NR-3 (Rating Procedure Inapplicable) to the FSR and “nr” to the ICR.
The rating actions follow the March 1, 2010 announcement by Centene Corporation [NYSE: CNC], the parent of University Health Plans, Inc., that it had completed the sale of the Medicaid assets of University Health Plans, Inc. to AMERIGROUP New Jersey Inc.
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