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Summary: Norfolk Economic Development Authority, Virginia Sentara Healthcare; CP; System Oct 06
Standard & Poors, October 2006
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: New Rating
Action: Outlook: Stable
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Sentara Healthcare,Norfolk Econ Dev Auth