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Ratings agency Standard & Poor's (S&P) has put its ratings on two Vitality Re issuances from health insurer Aetna on CreditWatch with positive implications due to improving claims experience.

The notes trigger if Aetna's medical benefit ratio on a portfolio of business rises above a preset threshold.

But the actual ratios on the covered business are improving due to positive claims trends over the past two years, the agency noted.

S&P expects to raise the ratings by one or two...

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