Avera Health, SD#s Series 2017 Revenue Bonds Rated #AA-#

Stocks and Financial Services Press Releases Tuesday September 19, 2017 08:43
NEW YORK--19 Sep--S&P Global Ratings

NEW YORK (S&P Global Ratings) Sept. 18, 2017--S&P Global Ratings has assignedits 'AA-' long-term rating to South Dakota Health and Education FacilitiesAuthority's series 2017 revenue bonds issued for Avera Health (Avera). At thesame time, S&P Global Ratings affirmed its 'AA-' rating on the authority'svarious bonds outstanding, also issued for Avera.

S&P Global Ratings also affirmed its 'A+' rating, with a stable outlook, onEstherville, Iowa's hospital facility revenue debt, issued for Avera HolyFamily Hospital. The rating reflects a guarantee from Avera McKennan, which ispart of Avera. The McKennan guarantee, though unconditional, is not on parwith Avera's obligated group debt, therefore, we rate it one notch below ourrating on Avera's bonds. Gross revenue from Avera Holy Family, acritical-access hospital, secures the bonds. We expect Avera Holy Family andits debt to become part of the obligated group. Once the transaction iscomplete, we will raise the rating to reflect this change.

"The 'AA-' rating reflects our assessment of Avera's strong business position,with a large presence that accounts for more than 40% of discharges acrossfive states, and its integrated-delivery model that covers the full continuumof care, including two health plans," said S&P Global Ratings credit analystMargaret Carr.


Latest Press Release

KASIKORNBANK announces 2018 net profit of Baht 38,459 Million

Mr. Patchara Samalapa, President of KASIKORNBANK, said KASIKORNBANK announced net profit for the year of 2018 of Baht 38,459 Million, an increase of Baht 4,121 Million or 12.00% over the previous year. Operating performance for the year of 2018 compared...

Siam Commercial Bank reported 2018 net profit of Baht 40.1 billion

Siam Commercial Bank and its subsidiaries announced net profit of Baht 7.1 billion in the fourth quarter of 2018 and Baht 40.1 billion for 2018 (based on unaudited consolidated financial statements), a 7.1% yoy decrease from a year ago. Total operating...

Johnson Johnson Completes Acquisition of Ci:z Holdings Co., Ltd.

Johnson & Johnson (NYSE:JNJ) today announced the completion of the acquisition of Ci:z Holdings Co., Ltd. (TYO: 4924) (the "Company") for a total purchase price of approximately JPY / CNY230 billion. The acquisition was completed through a series of...

Siam Commercial Bank Partners with Chaixi Bameekiao and Visa To facilitate QR payment for noodle franchise

- Ms. Pimjai Tongmee, SCB's Payment Product Sales and Delivery Division Executive Vice President - Mr. Panrob Kamla, President of Chaixi Bameekiao Co. Ltd - Mr. Suripong Tantiyanon, Country Manager for Visa Thailand "Siam Commercial Bank" (SCB)...

Isotropic Systems Raises $14 Million in Series A Funding Led by Boeing HorizonX Ventures to Advance Space-Based Connectivity

- Isotropic's approach to next-generation integrated terminal creates profound change in terminal economics and performance to unlock the satellite industry's full potential Isotropic Systems Ltd., the next-generation integrated satellite terminal...

Related Topics