Summary: North Colorado Medical Center 2008A And 2008B Bonds Rating Lowered To 'AA/A-3'; Joint Criteria Oct 12
- Language: English
- Published: October 2012
- Region: Colorado
Standard & Poor's Ratings Services has affirmed its 'A+' underlying ratings (SPURs) on Colorado Health Facilities Authority's bonds, issued on behalf of the North Colorado Medical Center (NCMC). The outlook is stable. The rating reflects our assessment of NCMC's: Fifteen-year, noncancelable operating agreement with Banner Health (which is currently pending extension to Jan. 1, 2027, that constitutes the full faith and credit of Banner Health and allows for predictability regarding upcoming NCMC revenues; Strong balance sheet, highlighted by solid days' cash on hand and a very strong cash-to-debt ratio; Solid maximum annual debt service (MADS) coverage; and Position as sole acute-care provider in the growing Weld County, Colo., service area, and excellent market share of 86%. Partially offsetting credit factors...
Companies mentioned in this report are: North Colorado Med Ctr,Colorado Hlth Fac Auth
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Research Type: Full Analysis
North Colorado Med Ctr,Colorado Hlth Fac Auth