Moody's affirms Highmark

Moody's Investors Service said it affirmed the Baa1 insurance financial strength rating and Baa2 senior unsecured debt rating of Highmark Inc. following the announcement that the company is pursuing a strategic partnership with Jefferson Regional Medical Center.

The agency said the proposed transaction is part of Highmark's announced strategy to develop an integrated delivery system in western Pennsylvania, which includes the previously announced proposed affiliation with West Penn Allegheny Health System.

The outlook remains negative, reflecting the uncertainty and risks associated with this strategy, the agency said.

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