West Penn Allegheny Health System, PA Bond Rating Lowered To 'CC' On Affiliation-Related Issues And Weak Financial Trend Dec 12
- Language: English
- Published: December 2012
Standard & Poor's Ratings Services has affirmed its 'B+' long-term rating on $737 million series 2007A fixed-rate bonds issued by the Allegheny County Hospital Development Authority for West Penn Allegheny Health System (WPAHS). The outlook remains developing until the affiliation agreement with Highmark Inc. receives all necessary regulatory approvals, at which time we will likely change the outlook to positive. Effective Nov. 1, 2011, WPAHS and Highmark Inc. (A/Stable) -- the dominant insurer in the western Pennsylvania market -- signed an agreement to form a provider subsidiary anchored by WPAHS, which will operate, along with Highmark Inc., under a single-parent corporation. The agreement is subject to regulatory approvals with final approvals not likely until next year. Concurrent with the signing,...
Companies mentioned in this report are: West Penn Allegheny Hlth Sys,Allegheny Cnty Hosp Dev Auth,Highmark Inc. d/b/a Highmark BCBS & Highmark Blue Shield
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West Penn Allegheny Hlth Sys,Allegheny Cnty Hosp Dev Auth,Highmark Inc. d/b/a Highmark BCBS & Highmark Blue Shield