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ProMedica Healthcare Obligated Group, OH, Series 2011D&E Bonds Assigned 'AA-' Rating; Outlook Positive Nov 11
Standard & Poors, November 2011
CHICAGO (Standard & Poor's) Nov. 8, 2011--Standard & Poor's Ratings Services assigned its 'AA-' long-term rating to Lucas County, Ohio's series $136.3 million 2011D fixed-rate revenue bonds and Lenawee County, Mich.'s $8.9 million series 2011E fixed-rate bonds issued for ProMedica Healthcare Obligated Group. The outlook is positive. We understand that the series 2011D and 2011E bond proceeds will refund the series 1999 and 1999A bonds. "The 'AA-' rating reflects our view of ProMedica's strong business position in the greater Toledo market, consistent operations, robust debt service coverage, light debt, and very sound liquidity," said Standard & Poor's credit analyst Suzie Desai. The positive outlook reflects ProMedica's track record of consistent operating trends, strong balance sheet, and improving strategic position in...
Companies mentioned in this report are: ProMedica Hlthcare Oblig Grp,Lenawee Cnty,Lucas Cnty
Action: New Rating
Action: Outlook: Positive
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: News
This product is a is a brief one-page announcement of no more than 500 words with a quote from the analyst. It is media and investor focused with no accompanying commentary article.
ProMedica Hlthcare Oblig Grp,Lenawee Cnty,Lucas Cnty