Summary: Norfolk Economic Development Authority Sentara HealthCare, Virginia; System Apr 08

Standard & Poors, April 2008

Abstract
Standard & Poor's Ratings Services revised its rating on Norfolk Economic Development Authority (NEDA), Va.'s series 2004A ($68.45 million), 2004B ($68.45 million), and 2004C ($63.225 million) hospital facilities revenue bonds, issued for Sentara Healthcare, to 'AAA/A-1+' from 'AAA'. The revised rating reflects a mode change to variable-rate demand bonds from auction-rate mode. At the same time, Standard & Poor's affirmed its 'AA' underlying rating (SPUR) on the series 2004A, 2004B, and 2004C bonds. Standard & Poor's also affirmed its 'AA' standard long-term rating and 'AA' SPUR on about $608 million in long-term bonds issued by various issuers for Sentara. The long-term component of the 'AAA/A-1+' dual rating on the series 2004A, 2004B, and 2004C bonds is based on 'AAA' rated...

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