Highmark Inc. is the fourth-largest Blue Cross Blue Shield Assn. (BCBS) plan with leading market shares in its core markets and well-recognized BCBS brand. We are affirming our 'A' ratings on Highmark Inc. The stable outlook on Highmark reflects our expectation that it will sustain its leadership position in its core markets and operating performance in line with similar peers. On Sept. 30, 2019, S&P Global Ratings affirmed its 'A' insurer financial strength and long-term issuer credit ratings on Highmark Inc. The outlook is stable. The stable outlook on Highmark reflects our expectation that it will sustain its leading market positions and profitability in line with other similarly rated peers. We forecast adjusted EBIT rate of return (ROR) of 3%-4%
