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Arizona Health Facilities Authority, Banner Health; Joint Criteria; System Jun 11
Standard & Poors, June 2011
Abstract
Standard & Poor's Ratings Services raised its long-term and underlying ratings to 'AA-' from 'A+' on-Banner Health, Ariz.'s outstanding debt. At the same time, Standard & Poor's assigned its 'AA-' underlying rating (SPUR) on Banner Health's series 2007A&B hospital revenue bonds and outstanding secondary insured market bonds. The outlook is stable. Finally, Standard & Poor's affirmed its 'AAA/A-1+' and 'AAA/A-1' ratings on Banner Health's variable-rate demand obligations (VRDOs), based on the application of joint criteria, with low correlation. Positive credit factors include our view of Banner's: Solid market position in its core markets in the greater Phoenix and northeast Colorado service areas; Good revenue growth and sound operating performance through fiscal year-end Dec. 31, 2010, and improved results through the...
Companies mentioned in this report are: Banner Hlth,Arizona Hlth Fac Auth,Merrill Lynch & Co. Inc.,Citibank N.A.,Morgan Stanley
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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