Pell City Special Care Facilities Financing Authority, Alabama Noland Health Services Inc.; Long Term Care Dec 09
- ID: 2082874
- December 2009
- Region: Alabama
- Standard & Poors
Standard & Poor's Ratings Services raised its long-term rating to 'A-' from 'BBB' on the $22.04 million Pell City Special Care Facilities Financing Authority, Ala. (issuer) series 2007 bonds issued for Noland Health Services Inc. (NHS). Securing the bonds is the gross revenue of NHS's obligated group members and mortgages on the senior-living facilities. Standard & Poor's also has an 'AA/A-1+' rating, which is unaffected by this action, on the issuers $50.0 million series 2009-A revenue bonds issued for NHS based solely on a letter of credit from U.S. Bank N.A. The upgrade reflects our opinion that NHS has an excellent management team that has grown its business by 56.8% over the six-year period ended fiscal year June 30, 2009,...
Companies mentioned in this report are: Noland Hlth Services,Pell City Spl Care Facs Fincg Auth
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