Community Foundation Of Northwest Indiana Obligated Group, IN Revenue Bond Rating Raised To 'AA-' On Good MADS Coverage

SAN FRANCISCO (S&P Global Ratings) Nov. 5, 2018--S&P Global Rating raised its long-term and underlying rating (SPUR) to 'AA-' from 'A+' on the Indiana Finance Authority's hospital revenue bonds, issued for Community Foundation of Northwest Indiana Obligated Group (CFNI). The outlook is stable. "The raised rating reflects our view of CFNI's continued positive operating performance, good maximum annual debt service coverage, and substantial growth in the balance sheet," said S&P Global Ratings credit analyst Aamna Shah. "The recent improvement in operations stem from recent growth in net patient revenue, new service lines, and growth in utilization," Ms. Shah added. The rating also reflects our assessment of CFNI's: Strong and consistent operating performance; Ample and growing liquidity; Successful expansion into outlying

...SAN FRANCISCO (S&P Global Ratings) Nov. 5, 2018--S&P Global Rating raised its long-term and underlying rating (SPUR) to '##-' from 'A+' on the Indiana Finance Authority's hospital revenue bonds, issued for Community Foundation of Northwest Indiana Obligated Group (CFNI). The outlook is stable. "The raised rating reflects our view of CFNI's continued positive operating performance, good maximum annual debt service coverage, and substantial growth in the balance sheet," said S&P Global Ratings credit analyst Aamna Shah. "The recent improvement in operations stem from recent growth in net patient revenue, new service lines, and growth in utilization," Ms. Shah added. The rating also reflects our assessment of CFNI's: + Strong and consistent operating performance; + Ample and growing liquidity; + Successful expansion into outlying and demographically favorable markets, which has solidified its position as market leader in the competitive northwest Indiana market; and + Solid maximum annual...

Ratings Action