Summary: Norfolk Economic Development Authority, Virginia Sentara Healthcare; CP; System Oct 06

Standard & Poors, October 2006

Abstract
Standard & Poor's Ratings Services assigned its 'AA' long-term rating on Norfolk Economic Development Authority, Va.'s $162.1 million series 2006 bonds, issued on behalf of Sentara Healthcare, Va. In addition, Standard & Poor's affirmed its 'AA' long-term rating on the existing series 1997A, 1997B, 1998, and 2004D bonds, and its 'AA' underlying rating (SPUR) on the series 2004A-C bonds, issued by various issuers for Sentara, an integrated health care delivery system. Standard & Poor's also affirmed its 'A-1+' short-term rating on the series 1997B bonds. The assigned and affirmed ratings incorporate Sentara's acquisition by merger of Obici Hospital (now called Sentara Obici) on April 1, 2006, and the refinancing of a portion of the outstanding debt from the series 2006...

Companies mentioned in this report are: Sentara Healthcare,Norfolk Econ Dev Auth
Action: Affirmed
Action: New Rating
Action: Outlook: Stable

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This product consists of a Summary Analysis: Bi-annual (at least). An abbreviated analysis containing Standard & Poor's issuer credit ratings as of the time the article was published. The analysis includes a rating rationale - the basis on which the rating was assigned - and an outlook section if the issuer is not on CreditWatch. Financial statistics are not included.

Sentara Healthcare,Norfolk Econ Dev Auth

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