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Ascension Health, MO.'s $713.175 Million Bonds Are Rated 'AA/A-1+' To Reflect Mode Change Mar 08
Standard & Poors, March 2008
Abstract
DALLAS (Standard & Poor's) March 24, 2008--Standard & Poor's Ratings Services assigned an 'A-1+' short-term rating to Ascension Health, Mo.'s $713.175 million bonds (Michigan State Hospital Finance Authority's $253.4 million 2003B1, B2, B7, and B8 series, Missouri Health and Education Facilities Authority's $222.625 million 2003C1, C2, C4 and C5 series, and Indiana Health Facilities Financing Authority's $237.150 million 2003E1-E4 series) to reflect a mode change to variable-rate demand obligations. The bonds were previously issued as auction rate bonds and are being converted to weekly mode, supported by Ascension Health's own self-liquidity. 'As a result these bonds will now carry a dual rating of 'AA/A-1+',' said Standard & Poor's credit analyst Martin Arrick. Standard & Poor's also affirmed the long-term 'AA'...
Companies mentioned in this report are: Ascension Health Alliance,Michigan St Hosp Fin Auth,Missouri Hlth & Educl Facs Auth,Indiana Hlth Fac Fin Auth
Action: Affirmed
Action: New Rating
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.
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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