Summary: Ascension Health, Missouri; System Feb 08

Standard & Poors, February 2008

Abstract
Standard & Poor's Ratings Services revised its rating outlook on all of Ascension Health, Mo.'s debt, issued by various issuers, to positive from stable, reflecting Ascension Health's position as the largest non-governmental, not-for-profit health system in the country; coupled with Ascension Health's very strong cash flow, established operating performance, and sizeable unrestricted reserves. At the same time, Standard & Poor's affirmed its 'AA' long-term rating and underlying rating (SPUR) on Ascension Health's roughly $3.7 billion in revenue bonds (various series and issuers), as well as its 'AA-' long-term rating on Ascension Health's $601.0 million series 2005A subordinated revenue bonds. Standard & Poor's also affirmed its 'A-1+' short-term rating on Ascension Health's CP programs and on its various variable-rate demand bonds....

Companies mentioned in this report are:
- Ascension Health Alliance
- Connecticut Hlth & Educl Facs Auth
- Idaho Hlth Fac Auth
- Michigan St Hosp Fin Auth
- Escambia Cnty Hlth Fac Auth
- Jacksonville Hlth Fac Auth
- Missouri Hlth & Educl Facs Auth
- The Hlth & Ed Facs Brd of the Metro Govt of Nashville & Davidson Cnty
- Waco Hlth Fac Dev Corp
- Travis Cnty Hlth Fac Dev Corp
- Schuylkill Cnty Indl Dev Auth
- Alabama Spl Care Fac Fin Auth of Birmingham
- Puerto Rico Indl Tourist Educl Med Environ Cntl Facs Fincg Auth
- Wisconsin Hlth & Ed Fac Auth
- Illinois Fin Auth
- Indiana Hlth Fac Fin Auth

Action: Affirmed
Action: Outlook: Positive

Standard and Poors RatingsXpress Credit Research provides in-depth coverage of international corporates, financial institutions, insurance companies, utilities, sovereigns and structured finance programs. RatingsXpress Credit Research lets users determine the credit rating of holdings and identify key factors underlying an issuer's creditworthiness, distinguishes the different risk exposures for new and existing deals, and provides an understanding of how their analysts interpret key regulatory, political and environmental events and their economic impact.

This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

- Ascension Health Alliance
- Connecticut Hlth & Educl Facs Auth
- Idaho Hlth Fac Auth
- Michigan St Hosp Fin Auth
- Escambia Cnty Hlth Fac Auth
- Jacksonville Hlth Fac Auth
- Missouri Hlth & Educl Facs Auth
- The Hlth & Ed Facs Brd of the Metro Govt of Nashville & Davidson Cnty
- Waco Hlth Fac Dev Corp
- Travis Cnty Hlth Fac Dev Corp
- Schuylkill Cnty Indl Dev Auth
- Alabama Spl Care Fac Fin Auth of Birmingham
- Puerto Rico Indl Tourist Educl Med Environ Cntl Facs Fincg Auth
- Wisconsin Hlth & Ed Fac Auth
- Illinois Fin Auth
- Indiana Hlth Fac Fin Auth

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