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Ascension Health's Revenue Bonds Rated 'AA' and Variable-Rate Revenue Bonds 'AA/A-1+' Oct 99
Standard & Poors, Oct 1999
Abstract
NEW YORK (Standard & Poor's CreditWire) Oct. 6, 1999--Standard & Poor's today assigned its double-'A' rating to $1.7 billion revenue bonds series 1999A and double-'A/A-1'-plus rating to $700 million variable-rate revenue bonds series 1999B issued by various issuers for Ascension Health-a new health system formed by the combination of the Daughters of Charity National Health System (DCNHS-historically rated double-'A'-plus) and the Michigan-based Sisters of St. Joseph (SSJ-four different health systems under one umbrella). The bonds are scheduled to sell Oct. 12, 1999. In addition, Standard & Poor's lowered its rating on debt formerly secured by the Daughters of Charity that is now secured by Ascension Health (see list below). Standard & Poor's double-'A' rating is the third highest long-term debt...
Companies mentioned in this report are: Ascension Health Alliance
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: 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.
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