S&P Global Ratings' long-term rating on tax-exempt bonds issued by various authorities for Trinity Health Credit Group (Trinity Health), Mich., and on Trinity Health's taxable debt, is 'AA-'. Our dual rating on various series of variable rate demand bonds issued by various authorities for Trinity Health is 'AA-/A-1+'. Our rating on Trinity Health's taxable commercial paper is 'A-1+'. The outlook, where applicable, is stable. A security interest in the pledged property of the Trinity Health Obligated Group and certain designated affiliates secures the bonds. Pledged property includes all receipts, revenue, income, and other money received, including rights to receive accounts and health care insurance receivables. The 'A-1+' short-term component of the dual ratings and our 'A-1+' rating on Trinity Health's
