S&P Says It’s Looking at Cutting Insurer Centene to Junk Status

S&P Global Ratings said it’s considering cutting Centene Corp.’s credit ratings to junk, citing the health insurer’s suspending its 2025 profit outlook.

Centene said last week that it was withdrawing its previous forecast for its earnings for the year, because insurance market trends were veering from its assumptions, particularly in the plans it offers under the Affordable Care Act. Without that information, S&P has less confidence that the insurer will build the capital it needs quickly enough, the bond grader said in a statement on Monday.