Lehigh Valley Health Network, PA Debt Rating Lowered To 'A' Post Merger With Thomas Jefferson University; Outlook Stable

AUGUSTA (S&P Global Ratings) Oct. 15, 2024--S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) on Lehigh Valley Health Network (LVHN) debt, issued by various authorities, to 'A' from 'A+'. S&P Global Ratings also revised its outlook to stable from negative and affirmed its 'A' rating on bonds issued by various authorities for Thomas Jefferson University (TJU), Pa. and on TJU's taxable bonds. S&P Global Ratings assigned its 'A' rating to Pennsylvania Higher Educational Facilities Authority's $635 million series 2024B-1 and $300 million series 2024B-2 tax exempt bonds as well as $168 million 2024C taxable bonds all issued for TJU. S&P Global Ratings affirmed its 'AA+/A-1' rating on LVHN's series 2019B bonds based on our application of joint

...October 15, 2024 AUGUSTA (S&P Global Ratings) Oct. 15, 2024--S&P Global Ratings lowered its long-term rating and underlying rating (SPUR) on Lehigh Valley Health Network (LVHN) debt, issued by various authorities, to 'A' from 'A+'. S&P Global Ratings also revised its outlook to stable from negative and affirmed its 'A' rating on bonds issued by various authorities for Thomas Jefferson University (TJU), Pa. and on TJU's taxable bonds. S&P Global Ratings assigned its 'A' rating to Pennsylvania Higher Educational Facilities Authority's $635 million series 2024B-1 and $300 million series 2024B-2 tax exempt bonds as well as $168 million 2024C taxable bonds all issued for TJU. S&P Global Ratings affirmed its '##+/A-1' rating on LVHN's series 2019B bonds based on our application of joint criteria whereby the long-term rating is based on Bank of America and LVHN and the short-term rating is based on the bank. The outlook on all long-term ratings is stable. "The rating and outlook revisions reflect...

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