CHICAGO—Fitch Ratings on Monday revised its outlook for UnitedHealth Group Inc. and its insurance operating subsidiaries to "Negative" from "Stable," citing the insurer's recent decision to cut its 2008 guidance.
Fitch also affirmed its ratings for UnitedHealth, including its investment-grade "A" issuer-default rating.
Earlier this month, UnitedHealth lowered its 2008 profit outlook by 40 cents per share to a range of $3.55 to $3.60, citing "unusually high" costs related to the flu season, reduced investment income and projected membership declines.
Analysts polled by Thomson Financial currently expect a 2008 profit of $3.61 per share.
UnitedHealth shares fell 45 cents to $33.54 in afternoon trading.
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