S&P Global Ratings assigned its 'A+' long-term rating to Hospital for Special Surgery (HSS), N.Y.'s $350 million series 2020 taxable bonds. At the same time, we affirmed our 'A+' rating on HSS' 2018 taxable bonds. The outlook is stable. Pending regulatory approvals, HSS will use $150 million of the bond proceeds to finance a portion of its new River Building. Proceeds will also permanently finance half of the $300 million line of credit drawn for cash flow needs during the pandemic ($150 million), and $50 million of various strategic initiatives. The rating reflects HSS' clinical reputation, unique capabilities, broad and economically diverse service area, strong pre-pandemic demand for services, and expanding access points. We expect these strengths will continue to
