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Ascension Health, IN Notes Rated 'AA' May 02
Standard & Poors, May 2002
Abstract
NEW YORK (Standard & Poor's) May 15, 2002--Standard & Poor's said today it assigned its double-'A' rating to a private placement of the Indiana Heart Center LLC's $60 million in taxable auction-rate notes, based on a guaranty agreement executed by Ascension Health. The guaranty is secured on parity with Ascension Health's outstanding rated debt. In addition, Standard & Poor's said it affirmed its ratings and its Standard & Poor's underlying ratings (SPURs) on the outstanding debt issued for Ascension Health. The outlook is stable. The double-'A' rating reflects (1) the maintenance of a solid operating profile, highlighted by improved operations in each of the past two years, and continued improvement for the nine-month interim period ended March 31, 2002; (2)...
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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