TEXT-S&P: Wellpoint rating unaffected by CEO stepping down

Aug 29 - Standard & Poor's Ratings Services said today that WellPoint Inc.'s
(A-/Stable/A-2) announcement that its Chief Executive has stepped down
will not result in any rating action. For 2012 we expect WellPoint's total
revenue to be more than $60 million and its operating income (EBIT) and cash
flow (EBITDA) to be near $4 billion (6%-7% return on revenues) and $4.5 billion,
respectively. If WellPoint were to perform at a level consistent with these
expectations, adjusted EBITDA interest coverage would be within our
intermediate-term range of expectation (8x-10x). These results, combined with an
intermediate-term unregulated cash position of $1 billion, continue to support a
very strong liquidity and financial flexibility assessment. Early last month we
revised our outlook on WellPoint to stable from positive in connection with its
announced plan to acquire Amerigroup Corp. (BB+/Watch Pos/--). We expect no
change to the deal terms and for it to close by year-end 2012.