Fitch Raises Rating on Sierra Insurance Group

Insurance rating service, Fitch, has upgraded to `BBB-` from `BB+' the insurer financial strength rating on the Sierra Insurance Group (SIG), a wholly owned workers' compensation subsidiary of Sierra Health Services Inc. (NYSE:SIE). The Rating Outlook was revised from Negative to Stable. The rating actions follow the completion of Fitch's review of SIE, and reflect the considerable progress SIE has made relative to the following issues: -- Outstanding debt has been reduced from a high of $283 million at June 30, 2000, to approximately $161 at March 31, 2001, which excludes the $27 millio...