Parkview Health System Obligated Group, IN Bond Rating Lowered To 'A+' From 'AA-' On Declining Operations

SAN FRANCISCO (S&P Global Ratings) Aug. 9, 2024--S&P Global Ratings lowered its long-term and underlying (SPUR) rating to 'A+' from 'AA-' on Parkview Health System Obligated Group (Parkview), Ind.'s outstanding debt, issued by the Indiana Finance Authority. In addition, S&P Global Ratings lowered the long-term component of its dual rating to 'AA+' from 'AAA' on the authority's series 2009D bonds (assuming low correlation). The short-term component of the rating is 'A-1+'. At the same time, S&P Global Ratings assigned its 'A+' long-term rating to the authority's anticipated $43.7 million series 2024A privately placed bonds and $48.6 million series 2024B privately placed bonds, issued for Parkview. Finally, S&P Global Ratings affirmed its 'AA+/A-1' rating on the authority's series 2009B and 2009C bonds

...August 9, 2024 SAN FRANCISCO (S&P Global Ratings) Aug. 9, 2024--S&P Global Ratings lowered its long-term and underlying (SPUR) rating to 'A+' from '##-' on Parkview Health System Obligated Group (Parkview), Ind.'s outstanding debt, issued by the Indiana Finance Authority. In addition, S&P Global Ratings lowered the long-term component of its dual rating to '##+' from '###' on the authority's series 2009D bonds (assuming low correlation). The short-term component of the rating is 'A-1+'. At the same time, S&P Global Ratings assigned its 'A+' long-term rating to the authority's anticipated $43.7 million series 2024A privately placed bonds and $48.6 million series 2024B privately placed bonds, issued for Parkview. Finally, S&P Global Ratings affirmed its '##+/A-1' rating on the authority's series 2009B and 2009C bonds (assuming low correlation), issued on behalf of Parkview. The outlook, where applicable, is stable. "The lower rating reflects our view of Parkview's ongoing declining operations...

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