...S&P Global Ratings affirmed its '##+' long-term rating and underlying rating (SPUR) and its '##+/A-1+' dual rating (various issuers and various modes) on all senior revenue bonds issued for Ascension Health Alliance (Ascension). We also affirmed our '##' long-term rating on Ascension's series 2005A subordinated revenue bonds. The outlook on all applicable ratings is stable. The '##+' long-term component of our dual ratings is based on our view of Ascension's credit quality, while the 'A-1+' short-term component is based on our view of Ascension's self-liquidity. Ascension has identified several sources of funds--cash, short-term funds, lines of credit, long-term funds, and eligible equity investments--to support its unenhanced variable-rate demand bonds (VRDBs) and serial mode bonds, and traditional commercial paper (CP) program. Ascension maintains both long-term and short-term funds managed by professional investment managers. Ascension holds cash, fixed-income, and domestic equity assets,...
