Summary: Trinity Health, Michigan; CP; System Dec 07
Standard & Poors, December 2007
Abstract
Standard & Poor's Ratings Services raised its standard long-term rating and underlying rating (SPUR) on Trinity Health, Mich.'s various series bonds, issued by various issuers, to 'AA' from 'AA-', and where applicable to 'AA/A-1+' from 'AA-/A-1+'. The rating upgrade reflects Trinity Health's sound governance and management, rising patient utilization trend, and very strong financial performance and debt service coverage. In addition, Standard & Poor's assigned its 'A-1+' rating to Trinity Health's $150 million taxable commercial paper program that is authorized in the amount of $400 million. The raised rating affects about $2.1 billion of rated debt. Trinity Health has eliminated an earlier credit concern regarding the under funding of its pension and health benefits programs, having nearly fully funded the...
Companies mentioned in this report are:
- Trinity Health
- Fresno
- Montgomery Cnty
- Idaho Hlth Fac Auth
- Michigan St Hosp Fin Auth
- Franklin Cnty
- Maryland Indl Dev Fin Auth
- Iowa Fin Auth
- California Statewide Communities Dev Auth
- Indiana Hlth & Educl Fac Fincg Auth
Action: Upgraded
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.
This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.
- Trinity Health
- Fresno
- Montgomery Cnty
- Idaho Hlth Fac Auth
- Michigan St Hosp Fin Auth
- Franklin Cnty
- Maryland Indl Dev Fin Auth
- Iowa Fin Auth
- California Statewide Communities Dev Auth
- Indiana Hlth & Educl Fac Fincg Auth
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