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Allegheny County Hospital Development Authority, Pennsylvania West Penn Allegheny Health System; System Nov 11 Product Image

Allegheny County Hospital Development Authority, Pennsylvania West Penn Allegheny Health System; System Nov 11

  • ID: 1952292
  • November 2011
  • Region: Pennsylvania
  • Standard & Poors

Abstract
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
Action: Affirmed

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

West Penn Allegheny Hlth Sys,Allegheny Cnty Hosp Dev Auth,Highmark Inc. d/b/a Highmark BCBS & Highmark Blue Shield

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