UNH · 10-Q · 2026Q1 · Full report

Credit Ratings And Outlook

UNITEDHEALTH GROUP INC · 2026-05-05 · Importance 37 · Surprise 42

As of March 31, 2026 UnitedHealth's senior unsecured debt ratings were A2 (Moody's, Negative outlook), A+ (S&P, Negative outlook), A (Fitch, Negative outlook) and A- (A.M. Best, Stable outlook), and commercial paper ratings ranged from P-1 to A-1/F1/AMB-1 across agencies. The filing highlights that financing availability is influenced by profitability, operating cash flows, debt levels, credit ratings and market conditions and warns that a significant downgrade or adverse capital market conditions could raise borrowing costs or limit access to capital. These ratings and outlooks as of Q1 2026 are relevant to the company's cost of capital for debt issuance and refinancing, share repurchase flexibility and overall liquidity planning. Management emphasizes continued monitoring of ratings and covenant compliance across credit facilities.

Key facts

• As of March 31, 2026, the company's senior unsecured debt ratings were A2 (Moody's) with Negative outlook, A+ (S&P) with Negative outlook, A (Fitch) with Negative outlook and A- (A.M. Best) with Stable outlook. source
• As of March 31, 2026, the company's commercial paper ratings were P-1 (Moody's), A-1 (S&P Global), F1 (Fitch) and AMB-1 (A.M. Best). source