Oct 8 - Standard & Poor's Ratings Services said today that UnitedHealth Group Inc.'s (A/Stable/A-1) definitive agreement to purchase Amil Participacoes SA does not result in any rating action. Amil, based in Sao Paulo, is the biggest private health insurance company in Latin America. Amil is the leading health insurer in a relatively fragmented market that is in the early stage of consolidation. We consider this transaction to be consistent with UnitedHealth's growth strategy, which is supported by a combination of organic development and acquisition. The $4.9 billion purchase price exceeds 15% of UnitedHealth's shareholder equity as of June 30, 2012, which represents a material sum in our view. We expect the deal to be at least partly funded with new debt and for pro-forma debt leverage to be moderately more than 35% for a short period. UnitedHealth has significant deal-integration experience, and we consider this transaction to be manageable. We expect Amil's contribution to consolidated cash flow to be modest in the near term but increase meaningfully in the intermediate term due to the growth and consolidation of Amil's market. In our view, key risks relate to the sustainability of economic development in Brazil and the country's receptiveness to foreign investment.