Highmark Inc. Senior Debt Issue-Level Rating Corrected To 'A-' From 'A' - S&P Global Ratings’ Credit Research

Highmark Inc. Senior Debt Issue-Level Rating Corrected To 'A-' From 'A'

Highmark Inc. Senior Debt Issue-Level Rating Corrected To 'A-' From 'A' - S&P Global Ratings’ Credit Research
Highmark Inc. Senior Debt Issue-Level Rating Corrected To 'A-' From 'A'
Published May 27, 2020
3 pages (1549 words) — Published May 27, 2020
Price US$ 150.00  |  Buy this Report Now

About This Report

  
Abstract:

We have identified an analytical error involving misapplication of our criteria. As a result, we no longer rate Highmark Inc.'s senior debt at the same level as our issuer credit rating on the company. We are consequently correcting our issue-level rating on Highmark's senior unsecured notes due 2021 and 2041 to 'A-' from 'A'. Our issuer and financial strength ratings on Highmark remain unchanged at 'A'. CENTENNIAL (S&P Global Ratings) May 27, 2020--S&P Global Ratings today lowered its issue-level ratings on Highmark Inc.'s senior debt to 'A-' from 'A' to correct the misapplication of our criteria. Highmark's issuer and financial strength ratings remain unchanged at 'A'. Under our Insurers Rating Methodology criteria, debt instruments that are subordinated to policyholder obligations

  
Brief Excerpt:

...May 27, 2020 - We have identified an analytical error involving misapplication of our criteria. - As a result, we no longer rate Highmark Inc.'s senior debt at the same level as our issuer credit rating on the company. - We are consequently correcting our issue-level rating on Highmark's senior unsecured notes due 2021 and 2041 to 'A-' from 'A'. - Our issuer and financial strength ratings on Highmark remain unchanged at 'A'. CENTENNIAL (S&P Global Ratings) May 27, 2020--S&P Global Ratings today lowered its issue-level ratings on Highmark Inc.'s senior debt to 'A-' from 'A' to correct the misapplication of our criteria. Highmark's issuer and financial strength ratings remain unchanged at 'A'. Under our Insurers Rating Methodology criteria, debt instruments that are subordinated to policyholder obligations are rated one notch below the insurer's issuer credit rating. Specifically the criteria states that if "an issuer is an operating company, we rate senior debt at a lower level than the...

  
Report Type:

Ratings Action

Ticker
7177Z
Issuer
Highmark Inc.
GICS
Managed Health Care (35102030)
Sector
Global Issuers
Country
United States
Region
United States
Format:
PDF Adobe Acrobat
Buy Now

Highmark Inc. – 2020/07/17 – US$ 500.00

Highmark Inc. – 2021/05/04 – US$ 500.00

Highmark Inc. – 2023/05/12 – US$ 500.00

Highmark Inc. – 2025/05/07 – US$ 500.00

Highmark Inc. – 2019/04/26 – US$ 500.00

Summary: Highmark Inc. – 2019/04/26 – US$ 225.00

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S&P Global Ratings’ Credit Research—S&P Global Ratings’ credit research provides analysis on issuers and debt obligations of corporations, states and municipalities, financial institutions, insurance companies and sovereign governments. S&P Global Ratings 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.

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Cite this Report

  
MLA:
S&P Global Ratings’ Credit Research. "Highmark Inc. Senior Debt Issue-Level Rating Corrected To 'A-' From 'A'" May 27, 2020. Alacra Store. May 13, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Highmark-Inc-Senior-Debt-Issue-Level-Rating-Corrected-To-A-From-A-2449708>
  
APA:
S&P Global Ratings’ Credit Research. (). Highmark Inc. Senior Debt Issue-Level Rating Corrected To 'A-' From 'A' May 27, 2020. New York, NY: Alacra Store. Retrieved May 13, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Highmark-Inc-Senior-Debt-Issue-Level-Rating-Corrected-To-A-From-A-2449708>
  
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