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StumbleBrief: LV company downgraded
Tuesday, Nov. 10, 1998 | 2:13 a.m.
Health Plan of Nevada's financial strength rating was lowered from A to A- and Sierra Health and Life Insurance Co.'s claims paying ability rating was lowered from A to A-.
The ratings were lowered because of additional debt Sierra took on for its $145 million purchase of Kaiser Permanente's money-losing health operation in Dallas.
Duff & Phelps noted Sierra has strong and profitable health operations in Southern Nevada.
"Despite competitive market conditions, Sierra's operating performance continues to rank among the best in the managed care industry," the rating agency said today.
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