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Sentara HealthCare, VA Bond Rating Revised To 'AAA/A-1+' On Conversion To Weekly Rate Mode Apr 08
Standard & Poors, April 2008
NEW YORK (Standard & Poor's) April 22, 2008--Standard & Poor's Ratings Services revised its rating on Sentara Healthcare, Va.'s $200.125 million series 2004A-C bonds, issued by the Norfolk Economic Development Authority (NEDA) to 'AAA/A-1+' from 'AAA', reflecting a mode change to variable-rate demand bonds (VRDBs). The 'AAA' long-term component of the rating is based on 'AAA' rated Financial Security Assurance Inc. insurance. The 'A-1+' short-term component of the rating reflects the ability of Sentara to fund, from its own liquidity, any bonds that have been tendered, but not successfully remarketed. The 'AA' Standard & Poor's underlying rating (SPUR) on the series 2004A-C bonds was affirmed. At the same time, Standard & Poor's affirmed its 'AA' standard long-term rating and SPUR...
Companies mentioned in this report are: Sentara Healthcare,Norfolk Econ Dev Auth
Action: New Rating
Action: Outlook: Stable
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
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Sentara Healthcare,Norfolk Econ Dev Auth