NEW YORK (Standard&Poor's CreditWire) Nov. 9, 1999--Standard&Poor's today affirmed its single-'A'-plus financial strength and counterparty credit ratings on Noridian Mutual Insurance Co., d/b/a Blue Cross and Blue Shield of North Dakota. The outlook is stable. The ratings reflect Noridian Mutual's dominant market position, strong capitalization, and conservative investment practices. The ratings also reflect the plan's marginal but improving earnings performance, regulatory restrictions on capital accumulation and rate increases, and a potentially more competitive market environment. Major Rating Factors: -- Dominant market position: Noridian Mutual is the leading health insurer in North Dakota, with an estimated 78% market share, which is based on total insured premiums in the state. The plan's high market share has been achieved
