Abstract: The insurer financial strength ratings on Louisiana Health Service&Indemnity Co., which does business as Blue Cross and Blue Shield of Louisiana, and HMO Louisiana Inc. (collectively referred to as BCBSLA) are based on BCBSLA's strong competitive position in the Louisiana health insurance market, very strong capitalization, very strong liquidity backed by high-quality investments, and return on revenue that is consistent with what we expect for an 'A' rated not-for-profit company. Slightly offsetting these factors are BCBSLA's single-state geographic concentration in a competitive market, business-line concentration in a highly regulated industry, and state-level economic and population growth challenges over the long term. BCBSLA's rating profile has remained stable despite the impact of the 2005 and 2008 hurricanes on the

Brief Excerpt: RESEARCH Ratings Definitions Summary: Louisiana Health Service & Indemnity Co. And HMO Louisiana Inc. Publication date: 08-Dec-2008 Primary Credit Analyst: James Sung, New York (1) 212-438-2115; james_sung@standardandpoors.com Secondary...

Report Type: Summary
Ticker: 16242Z
Issuer: Louisiana Health Service&Indemnity Co. (d/b/a Blue Cross and Blue Shield of Louisiana)
GICS: Life & Health Insurance (40301020)
Sector: Global Issuers, Insurance
Country: United States
Region: United States
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 S&P Credit Research
S&P Credit Research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P also offers insight into the credit risk of structured finance deals, providing an independent view of credit risk associated with a growing array of debt-securitized instruments.