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Ascension Health's $940M Revenue Bonds Rated 'AA' On Robust Financial Performance Oct 06
Standard & Poors, Oct 2006
Abstract
SAN FRANCISCO (Standard & Poor's) Oct. 19, 2006--Standard & Poor's Ratings Services assigned its 'AA' rating to Ascension Health's $940.635 million in revenue bonds (various series and issuers). At the same time, Standard & Poor's affirmed its 'AA' long-term rating and its 'AA' underlying rating (SPUR) on roughly $3.3 billion in outstanding revenue bonds, as well as the 'AA-' long-term rating on Ascension's $612 million series 2005A subordinated revenue bonds. Standard & Poor's also affirmed its 'A-1+' short-term rating on Ascension's CP program and on its various variable-rate demand bonds (VRDBs). The outlook is stable. 'Ascension Health has a stable overall operating profile, with strong cash flow and sizable unrestricted reserves,' said Standard & Poor's credit analyst Lisa Zuckerman. 'While...
Companies mentioned in this report are: Ascension Health Alliance
Action: New Rating
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
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