Blue Cross and Blue Shield of Florida Credit and Financial Strength Rated 'A+' By Standard & Poor's Rating Services
Posted on: Thursday, 8 December 2005, 12:00 CST
JACKSONVILLE, Fla., Dec. 8 /PRNewswire/ -- Standard & Poor's Ratings Services raised its counterparty credit and financial strength ratings on Blue Cross and Blue Shield of Florida, Inc. (BCBSF) to 'A+' from 'A'. The outlook for BCBSF is listed as stable. At the same time, Standard & Poor's raised its rating on BCBSF's $150 million in surplus notes due in 2011 to 'A-' from 'BBB+'.
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According to the Standard & Poor's analysts, the ratings were raised to reflect the company's very strong capitalization and earnings profile as well as its strong market position and liquidity.
"This is a time of unprecedented change in a turbulent health care environment," said Chris Doerr, senior vice president and chief financial officer, BCBSF. "This positive rating from Standard and Poor's reflects the innovative thinking and programs we have implemented to remain the market leader in Florida."
Blue Cross and Blue Shield of Florida is a leader in Florida's health industry. BCBSF and its subsidiaries serve more than 7.2 million people. Since 1944, the company has been dedicated to meeting the diverse needs of all those it serves by offering an array of choices. BCBSF is a not-for-profit, policyholder-owned, tax-paying mutual company. Headquartered in Jacksonville, Fla., BCBSF is an independent licensee of the Blue Cross and Blue Shield Association, an association of independent Blue Cross and Blue Shield companies. For more information concerning BCBSF, please see its website at http://www.bcbsfl.com/ .
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Blue Cross and Blue Shield of Florida
CONTACT: Mark Wright, Blue Cross and Blue Shield of Florida,+1-904-905-6935, or mobile, +1-904-233-3481
Web site: http://www.bcbsfl.com/
Source: PRNewswire
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