A.M. Best Takes Various Rating Actions on Centene Corporation's HMO Subsidiaries

Business Wire, July 9, 2007

OLDWICK, N.J. -- A.M. Best Co. has taken various rating actions on the health maintenance organization (HMO) subsidiaries of Centene Corporation (St. Louis, MO) [NYSE: CNC]. (Please see below for a detailed listing of the companies and ratings.)

These ratings are based solely upon public information and present the most informed view A.M. Best can offer, short of an insurer participating in the full interactive rating process. A.M. Best uses the same rating scale and definitions as it does for its long-term financial strength interactive ratings but applies a pd modifier to ensure the user is aware of the more limited information basis for the rating.

Centene's HMO ratings reflect the companies' below average capitalization, concentrated business profile and fluctuating earnings. The companies have reported substantial growth in their Medicaid line of businesses, pressuring their underwriting capabilities and capital positions.

The financial strength rating (FSR) of C (Marginal) has been affirmed and the issuer credit rating (ICR) of "b" has been assigned to Managed Health Services Insurance Corporation, a subsidiary of Centene Corporation.

The FSR of C (Marginal) has been affirmed and an ICR of "b-" has been assigned to Coordinated Care Corporation Indiana, Inc., a subsidiary of Centene Corporation.

The FSR has been downgraded to C (Weak) from C (Marginal) and an ICR of "ccc" has been assigned to Superior Health Plan, Inc., a subsidiary of Centene Corporation.

The FSR has been downgraded to C (Marginal) from C (Marginal) and an ICR of "b-" has been assigned to University Health Plans, Inc., a subsidiary of Centene Corporation.

Founded in 1899, A.M. Best Company is a full-service credit rating organization dedicated to serving the financial services industries, including the banking and insurance sectors. For more information, visit www.ambest.com.