S&P gives slight rating bump to Highmark
The rating agency Standard & Poor’s gave Highmark Inc., the largest health insurer in Delaware, a credit rating bump in its latest review of the company. The health insurer went from “stable” to “positive,” according to the review.
Headquartered in Pittsburgh, Pennsylvania, Highmark enrolls over 60,000 people in Delaware.
“The positive outlook reflects our view of the company’s diversification within its revenue base and operations, along with the significant margin improvements reported within its Health Plan Division and the organization more broadly,” a research update from S&P stated.
Looking ahead, the agency could potentially lower the rating depending on how Highmark handles the expiration in June 2019 of a state-brokered consent decree with the University of Pittsburgh Medical Center. However, the agency anticipates rising margins.