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Washington Health Care Facilities Authority Virginia Mason Medical Center; Hospital Jan 12

Standard & Poors, January 2012

Abstract
Standard & Poor's Ratings Services affirmed its 'BBB' long-term rating and underlying rating (SPUR) on the Washington Health Care Facilities Authority's series 2007A, 2007B, 2007C, and 1997B bonds, issued for Virginia Mason Medical Center (VMMC). The outlook is stable. The ratings reflect our opinion of VMMC's history of good operating performance, successful completion of the first phase of its tower construction project within budget, and solid enterprise profile as a premier tertiary hospital and regional referral center in the Pacific Northwest, with an integrated multispecialty physician group and clinic network throughout the Seattle area. The rating also reflects our view of VMMC's reputation as a high-quality and low-cost provider of care, which are factors that we believe position the organization...

Companies mentioned in this report are:
- Virginia Mason Med Ctr
- Washington Hlth Care Fac Auth

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

- Virginia Mason Med Ctr
- Washington Hlth Care Fac Auth

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