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South Carolina Jobs Economic Development Authority Palmetto Health; Joint Criteria; System Mar 11 Product Image

South Carolina Jobs Economic Development Authority Palmetto Health; Joint Criteria; System Mar 11

  • Published: March 2011
  • Standard & Poors

Abstract
Standard & Poor's Ratings Services assigned its 'BBB+' underlying rating (SPUR) to series 2011 bonds issued by South Carolina Jobs Economic Development Authority for Palmetto Health. The bonds are expected to be issued as insured (Assured Guaranty) fixed-rate obligations and will refund Palmetto's series 2008A and series 2008B obligations. At the same time, Standard & Poor's affirmed its 'BBB+' long-term rating and underlying rating (SPUR) on Palmetto Health's bonds outstanding. In addition, Standard & Poor's affirmed its 'AAA/A-1' ratings based on the low-correlation joint support of Palmetto and Bank of America (A+) as the irrevocable direct-pay letter of credit provider (expires June 2013) for the series 2008A and 2008B variable-rate demand obligations. Upon refunding, the ratings on the refunded bonds...

Companies mentioned in this report are: Palmetto Hlth,South Carolina Jobs Econ Dev Auth
Action: New Rating

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Palmetto Hlth,South Carolina Jobs Econ Dev Auth

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