Oklahoma Development Finance Authority OU Medicine Inc.; Hospital

S&P Global Ratings revised the outlook to stable from negative and affirmed its 'BB+' long-term rating on the Oklahoma Development Finance Authority's approximately $826 million series 2018B tax-exempt fixed-rate bonds and approximately $201 million series 2018C taxable fixed-rate bonds, and its 'BB+' underlying rating (SPUR) on the authority's $85 million insured series 2018B tax-exempt fixed-rate bonds and $50 million insured series 2018C taxable fixed-rate bonds. All bonds were issued for OU Medicine Inc. (OUMI). The outlook revision reflects our view of OUMI's plans and initial progress in reactivating volumes and its receipt of funding from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which we think will lessen the magnitude of the erosion of OUMI's financial profile amid the

...S&P Global Ratings revised the outlook to stable from negative and affirmed its '##+' long-term rating on the Oklahoma Development Finance Authority's approximately $826 million series 2018B tax-exempt fixed-rate bonds and approximately $201 million series 2018C taxable fixed-rate bonds, and its '##+' underlying rating (SPUR) on the authority's $85 million insured series 2018B tax-exempt fixed-rate bonds and $50 million insured series 2018C taxable fixed-rate bonds. All bonds were issued for OU Medicine Inc. (OUMI). The outlook revision reflects our view of OUMI's plans and initial progress in reactivating volumes and its receipt of funding from the Coronavirus Aid, Relief, and Economic Security (CARES) Act, which we think will lessen the magnitude of the erosion of OUMI's financial profile amid the pandemic. In addition, OUMI had improved operations leading up to mid-March 2020 with margins close to 3%, resulting in healthy growth in unrestricted reserves at March 31, 2020. While we recognize...

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