Standard&Poor's Ratings Services revised its 'AA' rating to its 'AA/A-1+' dual rating on Ascension Health, Mo.'s bonds (Michigan State Hospital Finance Authority's series 2003B1, B2, B7, and B8; Missouri Health and Education Facilities Authority's series 2003C1, C2, C4, and C5; and Indiana Health Facilities Financing Authority's series 2003E1-E4) to reflect a mode change to variable-rate demand obligations. The bonds were previously issued as auction-rate bonds and are being converted to weekly mode, supported by Ascension Health's own self-liquidity. Standard&Poor's also affirmed its long-term 'AA' rating and positive outlook on all the affected bonds (various issuers and various series). Ascension Health is currently in the process of restructuring approximately $1.4 billion of outstanding auction-rate bonds, some into
