A.M. Best has assigned indicative Long-Term Issue Credit Ratings of "bbb+" to senior unsecured notes, "bbb" to subordinated notes, and "bbb-" to preferred stock, to the recently filed universal shelf registration of Anthem, Inc. (Anthem) (Indianapolis, IN) [NYSE:ANTM]. The outlook assigned to these Credit Ratings (ratings) is stable. Consequently, A.M. Best has withdrawn the ratings on the previous shelf registration. The existing ratings of Anthem and its subsidiaries are unchanged. Following its most recent debt issuance in mid-November, A.M. Best estimates that there will be an initial temporary elevation in Anthem's financial leverage to less than 45% and then it is expected that the company will moderate its leverage. Anthem's financial leverage was approximately 38% before the November issuance. Anthem's capitalization and operating results continue to be strong and holding company liquidity is very good. This press release relates to Credit Ratings that have been published on A.M. Best's website. For all rating information relating to the release and pertinent disclosures, including details of the office responsible for issuing each of the individual ratings referenced in this release, please see A.M. Best's Recent Rating Activity web page. For additional information regarding the use and limitations of Credit Rating opinions, please view Understanding Best's Credit Ratings . For information on the proper media use of Best's Credit Ratings and A.M. Best press releases, please view Guide for Media - Proper Use of Best's Credit Ratings and A.M. Best Rating Action Press Releases . A.M. Best is the world's oldest and most authoritative insurance rating and information source. For more information, visit www.ambest.com. Copyright © 2017 by A.M. Best Rating Services, Inc. and/or its subsidiaries. ALL RIGHTS RESERVED.