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Ascension Health, Missouri; System Apr 08
Standard & Poors, April 2008
Abstract
This report is being issued in response to further clarifications of the finance plan referenced in Standard & Poor's Ratings Services report, 'Idaho Health Facilities Authority/Ascension Health, Missouri; System,' published March 28, 2008, on Ratings Direct regarding Ascension Health, Mo.'s restructuring of approximately $1.4 billion of outstanding auction-rate bonds, some to serial-mode bonds and some to variable-rate obligations supported by self-liquidity. Standard & Poor's assigned its 'AA/A-1+' dual rating to Ascension Health, Mo's $525.4 million Michigan State Hospital Finance Authority's series 2008B1-B8 variable-rate demand obligations (VRDOs); $177.150 million Indiana Health Facilities Financing Authority's series 2008E1-E3 VRDOs; and to $24.7 million Idaho Health Facilities Authority's series 2003D VRDOs. The bonds were previously issued as auction-rate bonds and are being converted to...
Companies mentioned in this report are: Ascension Health Alliance,Idaho Hlth Fac Auth,Michigan St Hosp Fin Auth,Missouri Hlth & Educl Facs Auth,Indiana Hlth Fac Fin Auth,Wisconsin Hlth & Ed Fac Auth
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: Full Analysis
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