New Jersey Health Care Facilities Financing Authority Virtua Health, Inc.; Joint Criteria; System

S&P Global Ratings revised its outlook to stable from negative and affirmed its 'AA-' long-term rating on New Jersey Health Care Facilities Financing Authority's series 2013 bonds issued for Virtua Health Inc. (Virtua). In addition, S&P Global Ratings affirmed its 'AA-' underlying ratings (SPUR) on the authority's series 2009B, 2009C, 2009D, and 2009E bonds issued for Virtua. S&P Global Ratings also affirmed its 'AA+/A-1' dual rating on the series 2009B and 2009C variable-rate demand bonds and its 'AAA/A-1+' dual rating on the series 2009D and 2009E variable-rate demand bonds issued by the authority for Virtua. We base these ratings on the application of joint criteria, whereby the bonds are secured by both Virtua and JPMorgan Chase Bank N.A. (series 2009B

...S&P Global Ratings revised its outlook to stable from negative and affirmed its '##-' long-term rating on New Jersey Health Care Facilities Financing Authority's series 2013 bonds issued for Virtua Health Inc. (Virtua). In addition, S&P Global Ratings affirmed its '##-' underlying ratings (SPUR) on the authority's series 2009B, 2009C, 2009D, and 2009E bonds issued for Virtua. S&P Global Ratings also affirmed its '##+/A-1' dual rating on the series 2009B and 2009C variable-rate demand bonds and its '###/A-1+' dual rating on the series 2009D and 2009E variable-rate demand bonds issued by the authority for Virtua. We base these ratings on the application of joint criteria, whereby the bonds are secured by both Virtua and JPMorgan Chase Bank N.A. (series 2009B and 2009C) or Toronto-Dominion (TD) Bank (series 2009D and 2009E). The '##+' and '###' long-term components of the ratings are based jointly on the ratings on Virtua and those on the letter of credit (LOC) provider. The short-term components...

Full Report