Noridian has substantially increased its statutory capital and stabilized its operating performance. We are affirming our ratings on Noridian and revising the outlook to positive from stable The positive outlook reflects our view that risk-adjusted capitalization and operating performance will remain stable above historical levels. On April 5, 2017, S&P Global ratings affirmed its 'BBB+' financial strength and long-term counterparty credit ratings on Noridian Mutual Insurance Co. (d/b/a Blue Cross Blue Shield of North Dakota; Noridian). At the same time we revised the outlook on the ratings to positive from stable. The outlook revision reflects the significant increase in Noridian's statutory capital and our view that risk-adjusted capitalization and operating performance will remain stable above historical levels. We also revised
