...October 7, 2024 NEW YORK (S&P Global Ratings) Oct. 7, 2024--S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) on all senior revenue bonds issued for Ascension Health Alliance (Ascension), Mo. to '##' from '##+'. At the same time, S&P Global Ratings lowered its long-term rating on Ascension's series 2005A subordinated revenue bonds to '##-' from '##'. S&P Global Ratings also lowered its dual ratings (by various issuers and various modes) to '##/A-1+' and '##-/A-1+' on Ascension's senior and subordinated revenue bonds, respectively. The '##' and '##-' long-term component of our dual ratings is based on our view of Ascension's senior and subordinated credit quality, while the 'A-1+ short-term component is based on our view of Ascension's self-liquidity. The outlook is stable. "The rating actions reflect several years of operating challenges that have resulted in a shift in Ascension's overall financial profile, including weaker-than-expected operations, cash flow,...
