North Carolina Medical Care Commission Revenue Bond Rating Raised To 'BBB-' On Receipt Of Updated Information - S&P Global Ratings’ Credit Research

North Carolina Medical Care Commission Revenue Bond Rating Raised To 'BBB-' On Receipt Of Updated Information

North Carolina Medical Care Commission Revenue Bond Rating Raised To 'BBB-' On Receipt Of Updated Information - S&P Global Ratings’ Credit Research
North Carolina Medical Care Commission Revenue Bond Rating Raised To 'BBB-' On Receipt Of Updated Information
Published Oct 07, 2013
1003 words — Published Oct 07, 2013
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Abstract:

SAN FRANCISCO (Standard&Poor's) Oct. 7, 2013--Standard&Poor's Ratings Services raised its long-term rating to 'BBB-' from 'BB+' on North Carolina Medical Care Commission's health care facilities revenue bonds (McDowell Nursing Center), series 2002A. The bonds are secured by Ginnie Mae mortgage-backed securities (MBS). The outlook is stable. "The rating action reflects our analysis of available updated financial information based on our current stressed reinvestment rate assumptions for all scenarios as set forth in the related criteria articles," said Standard&Poor's credit analyst Jose Cruz. We believe the bonds are able to meet all bond costs from transaction revenues until maturity, assuming reinvestment earnings. In addition, our projected debt service coverage ratio of the transaction exceeds 1.01x

  
Brief Excerpt:

RESEARCH North Carolina Medical Care Commission Revenue Bond Rating Raised To '###-' On Receipt Of Updated Information Publication date: 07-Oct-2013 Primary Credit Analyst: Jose M Cruz, San Francisco (1) 415-371-5053; jose.m.cruz@standardandpoors.com...

  
Report Type:

Ratings Action

Issuer
North Carolina Med Care Comm
Sector
Global Issuers, Public Finance
Country
United States
Region
United States
Format:
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MLA:
S&P Global Ratings’ Credit Research. "North Carolina Medical Care Commission Revenue Bond Rating Raised To 'BBB-' On Receipt Of Updated Information" Oct 07, 2013. Alacra Store. May 12, 2025. <http://www.alacrastore.com/s-and-p-credit-research/North-Carolina-Medical-Care-Commission-Revenue-Bond-Rating-Raised-To-BBB-On-Receipt-Of-Updated-Information-1201527>
  
APA:
S&P Global Ratings’ Credit Research. (). North Carolina Medical Care Commission Revenue Bond Rating Raised To 'BBB-' On Receipt Of Updated Information Oct 07, 2013. New York, NY: Alacra Store. Retrieved May 12, 2025 from <http://www.alacrastore.com/s-and-p-credit-research/North-Carolina-Medical-Care-Commission-Revenue-Bond-Rating-Raised-To-BBB-On-Receipt-Of-Updated-Information-1201527>
  
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