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Bulletin: Mayo Clinic, MN Ratings Unchanged By Guaranty For PAFAF I Phoenix LLC 2024 Debt Issue

Published Sep 13, 2024

2 pages (1189 words) — Published Sep 13, 2024

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Abstract:

CHICAGO (S&P Global Ratings) Sept. 13, 2024--S&P Global Ratings said today that the approximately $73 million in series 2024 lease revenue bonds issued by the Industrial Development Authority of the City of Phoenix, Ariz. for PAFAF I Phoenix LLC and with full payment of interest and principal guaranteed by Mayo Clinic, Minn. has no effect on our existing ratings on Mayo. The guaranty on the 2024 lease revenue bonds by Mayo Clinic is an unconditional, irrevocable and absolute pledge, in line with the general obligation (GO) security pledge on Mayo's rated long-term debt, to make semi-annual base rent payments that secure the above-mentioned 2024 lease revenue bonds and also ensures that a timely and full payment is made on the

Brief Excerpt:

STANDARD & POOR'S, S&P and RATINGSDIRECT are registered trademarks of Standard & Poor's Financial Services LLC. S&P may receive compensation for its ratings and certain analyses, normally from issuers or underwriters of securities or...

Report Type:

Bulletin

Issuer

Mayo Clinic

Sector

Global Issuers, Public Finance

Country

United States

Region

United States

Format:

PDF

Mayo Clinic, MN Series 2025A, 2025B Bonds Assigned 'AA' Rating; Outlook Is Stable – 2025/03/24 – US$ 150.00

Rochester, Minnesota Mayo Clinic, Minnesota; CP; Hospital; Lease; System – 2025/03/24 – US$ 500.00

Summary: Rochester, Minnesota Mayo Clinic, Minnesota; CP; Hospital; Lease; System – 2025/03/24 – US$ 225.00

Mayo Clinic, MN Series 2025C Variable Rate Demand Bonds Rated 'AA/A-1', Series 2025D Bonds Rated 'AA+/A-1' – 2025/04/09 – US$ 150.00

Summary: Rochester, Minnesota Mayo Clinic, Minnesota; Joint Criteria; System – 2025/04/09 – US$ 225.00

Mayo Clinic, Minnesota; CP; Hospital; System – 2024/06/28 – US$ 500.00

Summary: Mayo Clinic, Minnesota; CP; Hospital; System – 2024/06/28 – US$ 225.00

Mayo Clinic, Minnesota; CP; Hospital; System – 2023/04/18 – US$ 500.00

Summary: Mayo Clinic, Minnesota; CP; Hospital; System – 2023/04/18 – US$ 225.00

Mayo Clinic, MN Series 2022 Fixed-Rate Tax-Exempt Bonds Assigned 'AA' Rating; Outlook Stable – 2022/03/15 – US$ 150.00

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Cite this Report


MLA:	S&P Global Ratings’ Credit Research. "Bulletin: Mayo Clinic, MN Ratings Unchanged By Guaranty For PAFAF I Phoenix LLC 2024 Debt Issue" Sep 13, 2024. Alacra Store. May 15, 2025. <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Mayo-Clinic-MN-Ratings-Unchanged-By-Guaranty-For-PAFAF-I-Phoenix-LLC-2024-Debt-Issue-3250326>

APA:	S&P Global Ratings’ Credit Research. (). Bulletin: Mayo Clinic, MN Ratings Unchanged By Guaranty For PAFAF I Phoenix LLC 2024 Debt Issue Sep 13, 2024. New York, NY: Alacra Store. Retrieved May 15, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/Bulletin-Mayo-Clinic-MN-Ratings-Unchanged-By-Guaranty-For-PAFAF-I-Phoenix-LLC-2024-Debt-Issue-3250326>

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