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Horizon's credit rating upgraded

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Standard & Poor's upgraded Horizon Blue Cross Blue Shield of New Jersey's financial rating from “A -“ to “A” Thursday.

S&P stated in its report, "Our view of the company's very strong financial profile is based on Horizon BCBSNJ very strong risk-adjusted capitalization (RAC) and expected stability in earnings," according to a Horizon release.

"We view this as external validation of our efforts to maintain a financially strong company that our customers can count on. While health care reform will bring uncertainty to the market, Horizon's financial strength is a constant," Horizon Senior Vice President and CFO Dave Huber said in a statement.

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