Fitch affirmed the long- and short-term issuer default ratings of managed care provider Cigna Corp., and affirmed financial strength ratings for several Cigna affiliates, SNL Financial reports. Cigna’s national claims operation is based in Bloomfield.
Fitch gave Cigna a long-term issuer default rating of BBB+, and rated its short-term issuer default at F2.
The rating agency also affirmed the insurer financial strength ratings of the company’s primary insurance units at A, SNL said.
The units are Connecticut General Life Insurance Co., Life Insurance Co. of North America, Cigna Life Insurance Co. of New York and Cigna Worldwide Insurance Co.
 The rating outlook remains negative, SNL said.
 The agency said the ratings action factors in the company’s improving balance sheet and an expected return to solid earnings and cash flows after a difficult 2008 and early 2009.
The ratings on the company take into account its “established competitive position in the U.S. health benefits and group insurance business, stable profitability, and good operating company balance sheet quality,” Fitch noted.
