S&P affirms ratings on Florida Blues

Dec 23, 2008

Tampa Bay Business Journal–December 22, 2008

Standard & Poor’s Ratings Services affirmed its “A+” counterparty credit and financial strength ratings on Blue Cross and Blue Shield of Florida.

The outlook for BCBSF is stable, the health insurer said in a release.

S&P also affirmed its “A-” rating on the Florida Blues’ $150 million in surplus notes due in 2011, the release said.

The “A+” insurance financial strength rating “reflects BCBSF’s strong market position, strong earnings profile and capitalization, and strong liquidity … The stable outlook reflects the expectation that BCBSF will effectively manage its growth strategy and return objectives to bolster its competitive position and produce strong operating income,” the release said.

Blue Cross and Blue Shield of Florida, headquartered in Jacksonville, serves more than 8.8 million people in Florida.