OU Medicine Inc., OK 2018B-C Bond Rating Raised To 'BB' On Profitability And Expected Cash Growth

DALLAS (S&P Global Ratings) Aug. 19, 2024--S&P Global Ratings raised its long-term rating on the Oklahoma Development Finance Authority's series 2018B tax-exempt fixed-rate bonds and series 2018C taxable fixed-rate bonds to 'BB' from 'BB-'. The bonds were issued for OU Medicine Inc. (OUMI), now doing business as OU Health. In addition, we also raised our underlying rating (SPUR) on the insured maturities of the authority's series 2018B and 2018C bonds, also issued for OUMI, to 'BB' from 'BB-'. "The upgrade reflects OU Health's healthy operating profitability with further growth in cash flow expected over the outlook period," said S&P Global Ratings credit analyst Patrick Zagar. "This has supported incremental improvement in year-end unrestricted reserves and we anticipate that trend will

...August 19, 2024 DALLAS (S&P Global Ratings) Aug. 19, 2024--S&P Global Ratings raised its long-term rating on the Oklahoma Development Finance Authority's series 2018B tax-exempt fixed-rate bonds and series 2018C taxable fixed-rate bonds to '##' from '##-'. The bonds were issued for OU Medicine Inc. (OUMI), now doing business as OU Health. In addition, we also raised our underlying rating (SPUR) on the insured maturities of the authority's series 2018B and 2018C bonds, also issued for OUMI, to '##' from '##-'. "The upgrade reflects OU Health's healthy operating profitability with further growth in cash flow expected over the outlook period," said S&P Global Ratings credit analyst Patrick Zagar. "This has supported incremental improvement in year-end unrestricted reserves and we anticipate that trend will continue, aided by increased Medicaid reimbursement under a new rate enhancement program and tapering capital spending."...

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