Summary: North Carolina Medical Care Commission CaroMont Health; Hospital; Joint Criteria
Standard & Poors, May 2011
Abstract
Standard & Poor's Rating Services has affirmed its 'AA-' underlying rating (SPUR) on North Carolina Medical Care Commission's $100.2 million series 2008 hospital revenue bonds, and $119.3 million series 2003 bonds, both issued for CaroMont Health. In addition, we affirmed the 'AAA/A-1' rating on the series 2003 bonds based on the application of Standard & Poor's joint criteria, using low correlation. The 'AAA' long-term component of the rating jointly reflects the credit worthiness of the letter-of-credit (LOC) provider, Bank of America N.A., and the obligor CaroMont. The short-term component of the rating is based on Bank of America. Since CaroMont's SPUR was raised in July 2010 to 'AA-' from 'A+', the organization's credit factors have remained consistent in our view,...
Companies mentioned in this report are: CaroMont Hlth,North Carolina Med Care Comm
Action: Affirmed
Action: Outlook: Stable
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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
CaroMont Hlth,North Carolina Med Care Comm
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