Providence St. Joseph Health, Washington; Joint Criteria; System

S&P Global Ratings affirmed its 'AA-' long-term rating and underlying rating (SPUR) on Providence St. Joseph Health (PSJH), Wash.'s existing tax-exempt bonds, issued by multiple issuers for PSJH. S&P Global Ratings also affirmed its 'AA-' long-term rating on PSJH's existing taxable bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its 'AA-/A-1+' dual rating on PSJH's series 2012C, 2012D, and 2012E bonds. The long-term component of the rating reflects the credit quality of PSJH, and the short-term component reflects a standby bond purchase agreement from U.S. Bank N.A. that expires on July 29, 2021. S&P Global Ratings also affirmed its 'AA+/A-1' dual rating on PSJH's taxable 2016G bonds, which were issued as variable-rate bonds. The long-term

...S&P Global Ratings affirmed its '##-' long-term rating and underlying rating (SPUR) on Providence St. Joseph Health (PSJH), Wash.'s existing tax-exempt bonds, issued by multiple issuers for PSJH. S&P Global Ratings also affirmed its '##-' long-term rating on PSJH's existing taxable bonds. The outlook is stable. At the same time, S&P Global Ratings affirmed its '##-/A-1+' dual rating on PSJH's series 2012C, 2012D, and 2012E bonds. The long-term component of the rating reflects the credit quality of PSJH, and the short-term component reflects a standby bond purchase agreement from U.S. Bank N.A. that expires on July 29, 2021. S&P Global Ratings also affirmed its '##+/A-1' dual rating on PSJH's taxable 2016G bonds, which were issued as variable-rate bonds. The long-term component of the rating reflects the joint support of the letters of credit (LOCs) provided by The Bank of Tokyo-Mitsubishi UFJ Ltd. and the SPUR on Providence St. Joseph Health, the obligor, assuming low correlation. The short-term...

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