North Carolina Medical Care Commission CaroMont Health; Hospital; Joint Criteria

S&P Global Ratings affirmed its 'AA-' underlying rating (SPUR), with a stable outlook, on North Carolina Medical Care Commission's hospital revenue debt, issued for CaroMont Health. At the same time, S&P Global Ratings affirmed its 'AAA/A-1+' dual rating and 'AA-' SPUR, with a stable outlook, on the commission's series 2003A and 2003B variable-rate demand bonds, issued for CaroMont. The dual rating reflects the application of our joint criteria, using low correlation. The long-term rating component jointly reflects our assessment of the creditworthiness of Wells Fargo Bank N.A., the letter of credit (LOC) provider, and CaroMont, the obligor. The short-term rating component reflects our assessment of the bank's liquidity support. We have assessed the financial profile as very strong, highlighted by

...S&P Global Ratings affirmed its '##-' underlying rating (SPUR), with a stable outlook, on North Carolina Medical Care Commission's hospital revenue debt, issued for CaroMont Health. At the same time, S&P Global Ratings affirmed its '###/A-1+' dual rating and '##-' SPUR, with a stable outlook, on the commission's series 2003A and 2003B variable-rate demand bonds, issued for CaroMont. The dual rating reflects the application of our joint criteria, using low correlation. The long-term rating component jointly reflects our assessment of the creditworthiness of Wells Fargo Bank N.A., the letter of credit (LOC) provider, and CaroMont, the obligor. The short-term rating component reflects our assessment of the bank's liquidity support. We have assessed the financial profile as very strong, highlighted by the organization's solid operating performance, coupled with a robust balance sheet. In addition, we have assessed CaroMont's enterprise profile as strong due to its strong market position, excellent...

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