Rochester, Minnesota Mayo Clinic, Minnesota; CP; Hospital; Lease; System

S&P Global Ratings assigned its 'AA' long-term rating to the City of Rochester, Minn.'s $97.9 million series 2025A tax-exempt revenue bonds and $91.4 million series 2025B tax-exempt put bonds issued for Mayo Clinic, Minn. In addition, S&P Global Ratings affirmed its 'AA' long-term rating on various revenue bonds outstanding issued for Mayo Clinic. S&P Global Ratings also affirmed its 'AA/A-1+' and 'AA/A-1' dual ratings on Mayo Clinic's various variable-rate demand bonds (VRDBs). Mayo Clinic's VRDBs are supported either by the system's self-liquidity or by standby bond purchase agreements, which are rated either 'A-1' or 'A-1+'. The long-term component of all the dual ratings reflects our view of Mayo Clinic's credit quality. Finally, S&P Global affirmed its 'AA' long-term rating on

...+ S&P Global Ratings assigned its '##' long-term rating to the City of Rochester, Minn.'s $97.9 million series 2025A tax-exempt revenue bonds and $91.4 million series 2025B tax-exempt put bonds issued for Mayo Clinic, Minn. + In addition, S&P Global Ratings affirmed its '##' long-term rating on various revenue bonds outstanding issued for Mayo Clinic. + S&P Global Ratings also affirmed its '##/A-1+' and '##/A-1' dual ratings on Mayo Clinic's various variable-rate demand bonds (VRDBs). Mayo Clinic's VRDBs are supported either by the system's self-liquidity or by standby bond purchase agreements, which are rated either 'A-1' or 'A-1+'. The long-term component of all the dual ratings reflects our view of Mayo Clinic's credit quality. + Finally, S&P Global affirmed its '##' long-term rating on Industrial Development Authority of the City of Phoenix (IDA-Phoenix), Ariz.'s series 2024A tax-exempt and 2024B taxable revenue bonds issued for PAFAF I Phoenix LLC with a guarantee from Mayo Clinic....

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