We consider a high-Q microresonator with χ (2) nonlinearity under conditions when the coupling rates between the sidebands around the pump and second harmonic exceed the damping rates, implying the strong coupling regime (SC). Using the dressed-resonator approach we demonstrate that this regime leads to the dominance of the Hermitian part of the operator driving the side-band dynamics over its non-Hermitian part responsible for the parametric gain. This has allowed us to introduce and apply the cross-area concept of the polariton quasi-particles and define their effective masses in the context of χ (2) ring-microresonators. We further use polaritons to predict the modified spectral response of the resonator to a weak probe field, and to reveal splitting of the bare-resonator resonances, avoided crossings, and Rabi dynamics. Polariton basis also allows deriving a discrete sequence of the parametric thresholds for the generation of sidebands of different orders.