S&P Global Ratings assigned its 'A+/A-1' rating to $100 million series 2012B variable rate demand bonds issued by Allen County, Ohio for Bon Secours Mercy Health (BSMH), Md. The long-term rating reflects BSMH's credit quality, and the short-term rating is based on a standby bond purchase agreement (SBPA) from the State of Ohio. The outlook on the long-term rating is positive. Securing the bonds is BSMH's general obligation pledge, supported by affiliate agreements signed by legacy Mercy Health and Bon Secours Health System facilities. The agreements require upstreaming of funds to meet obligations secured under the master trust indenture. The short-term rating is constrained by the rating on BSMH per our Standby Bond Purchase Agreement Automatic Termination Events criteria. Until
