Blue Cross Blue Shield of Delaware is affiliating with Highmark Inc., Pennsylvania’s largest health insurer, in a deal announced less than a week after its interest in finding a strategic partner was made public.

Highmark Inc.’s unfavorable earning trends, forecasted to show little improvement in the coming year or two, led a rating service to revise the health insurer’s credit rating to “negative.”

Pittsburgh, Pa.-based health insurer Highmark says it remains “financially strong,” in light of A.M. Best shifting its outlook to “negative” for the parent company and two of its health subsidiaries.

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