Newark, NJ (PRWEB) April 16, 2014
Horizon Blue Cross Blue Shield of New Jersey (BCBSNJ) announced today that Standard & Poor’s (S & P), a leading provider of investment and credit opinions to global capital markets, has reaffirmed its financial rating of “A” for the company following its most recent review. The rating is based on the company’s strong balance sheet, leading market share and stable earnings.
According to the Standard & Poor’s report, Horizon BCBSNJ’s “business fundamentals are strong.” In its rationale for maintaining the company’s “A” rating, S & P cited Horizon BCBSNJ’s “strong business risk profile and strong financial risk profile.”
“Standard and Poor’s affirmation of our ‘A’ credit rating demonstrates our commitment to our members and is one reason why 3.7 million members have trusted Horizon for their health insurance needs and the financial protection and peace of mind we provide,” said Robert A. Marino, Chairman and CEO, Horizon BCBSNJ.
The ratings agency further noted: “Management…exercises prudent control over operations by maintaining financial strength and efficient administrative expense controls, expanding and optimizing network provider relationships, and improving systems technology platforms to support its entire product line.”
Standard & Poor's Ratings Services is the world's leading provider of independent credit risk research and benchmarks. The agency publishes more than a million credit ratings on debt issued by sovereign, municipal, corporate and financial sector entities.
About Horizon Blue Cross Blue Shield of New Jersey
Horizon Blue Cross Blue Shield of New Jersey, the state’s oldest and largest health insurer, is a tax-paying, not-for-profit health services corporation, providing a wide array of medical, dental, and prescription insurance products and services. Horizon BCBSNJ is an independent licensee of the Blue Cross Blue Shield Association, serving 3.7 million members with headquarters in Newark and offices in Wall, Mt. Laurel, and West Trenton. Learn more at http://www.HorizonBlue.com.