George K. Baum&Co. Series 2019-XG0223 Receipt Ratings Lowered To 'A+/A-1' And 'A+', Removed From CreditWatch Negative

NEW YORK (S&P Global Ratings) July 19, 2024--S&P Global Ratings lowered the long-term rating components on George K. Baum&Co.'s series 2019-XG0223 tender-option-bond trust floater; residual; and custodial receipts, related to Dubois Hospital Authority, Pa.'s series 2018 hospital revenue bonds, to 'A+/A-1'; 'A+'; and 'A+', respectively, from 'AA/A-1', 'AA', and 'AA' and removed it from CreditWatch with negative implications where S&P Global Ratings placed the ratings on April 23, 2024. This rating action follows S&P Global Ratings' action on the underlying bonds (For further information, see "Penn Highlands Healthcare, PA Bond Rating Lowered To 'BBB' And Placed On CreditWatch Negative On Weaker Reserves," published July 12, 2024, on RatingsDirect.) The long-term rating on the custody receipts jointly reflects, assuming

...July 19, 2024 NEW YORK (S&P Global Ratings) July 19, 2024--S&P Global Ratings lowered the long-term rating components on George K. Baum & Co.'s series 2019-XG0223 tender-option-bond trust floater; residual; and custodial receipts, related to Dubois Hospital Authority, Pa.'s series 2018 hospital revenue bonds, to 'A+/A-1'; 'A+'; and 'A+', respectively, from '##/A-1', '##', and '##' and removed it from CreditWatch with negative implications where S&P Global Ratings placed the ratings on April 23, 2024. This rating action follows S&P Global Ratings' action on the underlying bonds (For further information, see "Penn Highlands Healthcare, PA Bond Rating Lowered To '###' And Placed On CreditWatch Negative On Weaker Reserves," published July 12, 2024, on RatingsDirect.) The long-term rating on the custody receipts jointly reflects, assuming low correlation, the ratings on the underlying securities and the credit-enhancement provider. The long-term component of the ratings on the floaters and the...

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