NY -- Standard&Poor's CreditWire 11/2/98 -- Standard&Poor's today affirmed its single-'A'-plus financial strength and counterparty credit ratings on Highmark Inc. The affirmation reflects superior capitalization, an excellent market position, and good liquidity. These strengths are offset by the company's poor operating performance since late 1995, and risks associated with aggressive growth plans. Highmark was formed in December 1996 through the consolidation of Pennsylvania Blue Shield and Veritus Inc.(doing business as Blue Cross Blue Shield of Western Pennsylvania) in order to respond to the dynamic changes taking place in the health care environment. Major rating factors include: -- Superior capitalization, with a Standard&Poor's capital adequacy ratio of 237% at year-end 1997. -- Highmark remains the
