Dubois Hospital Authority, Pennsylvania Penn Highlands Healthcare; Hospital

S&P Global Ratings revised its outlook to negative from stable and affirmed its 'A-' rating on the DuBois Hospital Authority, Pa.'s existing series 2020 and series 2018 bonds, issued for Penn Highlands Healthcare (PHH). At the same time, S&P Global Ratings assigned its 'A-' long-term rating, with negative outlook, to the authority's $37.7 million series 2021 hospital revenue bonds, issued for PHH. Proceeds including premium from the series 2021 bonds are anticipated to be approximately $50 million. The bond proceeds will repay a line of credit draw which was used to retire the outstanding debt of Monongahela Valley Hospital (MVH). In June 2021, PHH entered a definitive agreement to acquire MVH through a member substitution, with an expected closing date

...S&P Global Ratings revised its outlook to negative from stable and affirmed its 'A-' rating on the DuBois Hospital Authority, Pa.'s existing series 2020 and series 2018 bonds, issued for Penn Highlands Healthcare (PHH). At the same time, S&P Global Ratings assigned its 'A-' long-term rating, with negative outlook, to the authority's $37.7 million series 2021 hospital revenue bonds, issued for PHH. Proceeds including premium from the series 2021 bonds are anticipated to be approximately $50 million. The bond proceeds will repay a line of credit draw which was used to retire the outstanding debt of Monongahela Valley Hospital (MVH). In June 2021, PHH entered a definitive agreement to acquire MVH through a member substitution, with an expected closing date of Oct. 1, 2021. Following closing of this acquisition, MVH will consolidate into the financials of PHH. Gross revenue of the obligated group, which encompasses a majority of PHH's revenues and assets, secures the bonds. As a component of...

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