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Summary: Iowa Board of Regents University of Iowa Hospitals and Clinics; Hospital Jun 07

  • ID: 1815136
  • June 2007
  • Region: Iowa
  • Standard & Poors
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Abstract
Standard & Poor's Ratings Services assigned its 'AA' rating on Iowa Board of Regents, Iowa's $25 million series 2007 revenue bonds, issued for University of Iowa Hospitals and Clinics (UIHC). At the same time, Standard & Poor's affirmed its 'AA' rating on Iowa's $23.86 million series 2002 bonds, issued for the UIHC. The 'AA' rating reflects: Improved and solid operating margins for the past fiscal year in 2006 (see table 1) and continued solid performance for the nine months ended March 31, 2007; Extremely strong coverage of pro forma maximum annual debt service (MADS) in excess of 29x for fiscal 2006 due to a very low debt burden; and Solid balance sheet measures, reflected in acceptable unrestricted cash and investments,...

Companies mentioned in this report are:
- University of Iowa Hosps & Clinics
- Iowa Brd of Regents

Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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, READ MORE >

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- University of Iowa Hosps & Clinics
- Iowa Brd of Regents

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