Fitch affirms BCBS Florida

Fitch Ratings said it affirmed Blue Cross Blue Shield of Florida's long-term issuer default rating at A and $149 million 8.25% surplus notes due 2011 at A-.

The outlook is stable.

Ratings reflect the company's excellent competitive position in the Florida health insurance market, considerable brand recognition, strong balance sheet and good operating performance, the agency said.

The rating also considers the company's limited geographic diversification, challenges associated with rising medical costs, and the evolving legal and regulatory environment, Fitch said.

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