On March 29, 2002, Standard&Poor's affirmed its ratings on Highmark Inc. (d/b/a Highmark BCBS&PA Blue Shield). In the public filing on March 18, 2002, for the Allegheny County Hospital Development Authority, Pennsylvania's $92.5 million health-system revenue bonds (series 2002A) issued for the UPMC Hlth Sys (UPMC), UPMC discloses that they might not renew Highmark Inc.'s indemnity and managed-care hospital contracts, due to expire June 30, 2002, and the SecurityBlue acute care hospital contracts with Highmark Inc. due to expire on Dec. 31, 2002. Because UPMC enjoys a dominant business position and strong brand name recognition in Highmark Inc.'s core membership region of western Pennsylvania, a nonrenewal of the UPMC Hlth Sys hospital contracts would be highly
