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Ascension Health, Missouri; Health Care, CP; Health Care, Hospital; Health Care, System Nov 00
Standard & Poors, Nov 2000
Abstract
The long-term rating on the Illinois Development Finance Authority's bonds, issued for Ascension Health, Mo.'s St. Vincent De Paul Center, reflects: Considerable geographic and financial dispersion among system members; A solid financial profile, highlighted by light leverage, strong liquidity, and abundant cash flow; Improved performance in fiscal 2000, after disappointing operating results in fiscal 1999; and Strong management, which operates the system though a lean central office with many value-added services, combined with a demonstrated ability to prune nonperforming assets. The rating also reflects an expectation that the only remaining system member that is not part of the credit group--Health Partners, in Chicago--will be significantly restructured, creating a reasonable chance that this will generate a negative nonrecurring adjustment in the...
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: Full Analysis
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