Highmark Inc. has a very strong financial risk profile underpinned by continued balance-sheet strength in its subsidiaries. We are affirming our 'A-' financial strength ratings on Highmark Inc. and its affiliated businesses. The stable outlook reflects our view expectation that the company will expand margins in its core businesses while creating an integrated delivery care and financing system in affiliation with Allegheny Health Network (AHN). On March 23, 2016, Standard&Poor's Ratings Services affirmed its 'A-' financial strength ratings on Highmark Inc. and affiliates. At the same time, we affirmed our 'A-' debt ratings on the company's outstanding debt issues. We believe Highmark Inc. remains core to the overall Highmark Health group. The outlook is stable. Highmark Inc. and
