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Ascension Health, Missouri; Health Care, CP; Health Care, System Mar 06
Standard & Poors, March 2006
Abstract
Standard & Poor's Ratings Services affirmed its 'AA' long-term rating and its 'AA' underlying rating (SPUR) on roughly $3.4 billion in outstanding revenue bonds issued on behalf of Ascension Health (various issuers), as well as the 'AA-' long-term rating on $612 million in series 2005A subordinated revenue bonds. Standard & Poor's also affirmed its 'A-1+' short-term rating on Ascension Health's commercial paper program and its 'A-1+' short-term rating on the system's various variable-rate demand bonds (VRDBs). The 'AA' long-term rating on Ascension Health's debt reflects: Excellent geographic and financial dispersion, as the largest nongovernmental not-for-profit health system in the country; Robust operating profitability and cash flow, highlighted by further improvement in fiscal 2005 (marking the seventh consecutive year of improvement),...
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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