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Allegheny County Hospital Development Authority, Pennyslvania University Of Pittsburgh Medical Center; Hospital; Joint Criteria; System Nov 11
Standard & Poors, Nov 2011
Abstract
Standard & Poor's Ratings Services has assigned its long-term 'A+' rating to Allegheny County Hospital Development Authority's $335 million revenue bonds, issued for University of Pittsburgh Medical Center (UPMC). Standard & Poor's also affirmed its 'A+' long-term ratings and underlying ratings (SPURs) on various issuers' revenue bonds, issued for UPMC. We also affirmed our 'AAA/A-1' ratings on several variable-rate demand issues, with the long-term component of the ratings based jointly on UPMC and the letter-of-credit (LOC) bank, while the short-term component of the ratings is based on the bank. UPMC's operating performance has improved significantly since 2010, helping to generate much better debt service coverage, allowing for this 2011 issue with no strain on the current rating, and softening our...
Companies mentioned in this report are: Univ of Pittsburgh Med Ctr,Allegheny Cnty Hosp Dev Auth
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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