S&P changes Group Health to positive

Standard & Poor’s said it affirmed its ratings on Group Health Cooperative and its core operating subsidiaries, including its BB+ long-term counterparty credit and financial strength ratings.

The outlook was revised to positive from negative.

S&P said the positive outlook reflects the group’s improved operating performance and capital adequacy. Operating performance improved significantly through 2013, and the agency believes Group Health will sustain this improvement during the next 18 to 24 months.

The company reported dramatic growth in pretax generally accepted accounting principles operating income with income of $115.6 million in 2013, compared with an operating loss of $22.7 million in 2012, primarily from the company’s improved ability to control external delivery service expenses.

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