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Ascension Health, Missouri; Health Care, System Jun 04
Standard & Poors, June 2004
Abstract
Standard & Poor's Ratings Services affirmed its 'AA' long-term rating and its 'AA' underlying rating (SPUR) on the outstanding health facility revenue bonds issued by a variety of issuers on behalf of Ascension Health. The 'A-1+' short-term rating on Ascension Health's various variable-rate demand bonds (VRDBs) was also affirmed. The 'A-1+' rating reflects Ascension Health's ample liquidity combined with the quality of its short-term, short-duration assets, which are sufficient to meet potential puts. The long-term rating reflects: The maintenance of a solid operating profile, highlighted by continued improvement in operating income for the fourth year in a row combined with sharply improved cash flow for fiscal 2003 and the three quarters of fiscal 2004 as operational improvements have been augmented...
Companies mentioned in this report are: Ascension Health Alliance,Alabama Spl Care Fac Fin Auth of Birmingham
Action: Affirmed
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.
Research Type: Full Analysis
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