Summary: Indiana Finance Authority Parkview Health System Obligated Group; Joint Criteria

S&P Global Ratings raised its ratings on Indiana Finance Authority's series 2009D hospital revenue bonds, issued for Parkview Health System Obligated Group, to 'AAA/A-1+' from 'AA+/A-1' and affirmed its 'AA+/A-1' ratings on the authority's series 2009B hospital revenue bonds, issued for Parkview Health System Obligated Group. The rating actions reflect our assessment of the Dec. 13, 2023, replacement of the existing direct-pay letters of credit (LOCs) provided by Wells Fargo Bank N.A. with a new LOC provided by Sumitomo Mitsui Banking Corp., acting through its New York branch, for series 2009B and TD Bank N.A. for series 2009D. In addition, the interest-rate mode for series 2009B will be converted to the weekly rate mode from the daily rate mode. The

...S&P Global Ratings raised its ratings on Indiana Finance Authority's series 2009D hospital revenue bonds, issued for Parkview Health System Obligated Group, to '###/A-1+' from '##+/A-1' and affirmed its '##+/A-1' ratings on the authority's series 2009B hospital revenue bonds, issued for Parkview Health System Obligated Group. The rating actions reflect our assessment of the Dec. 13, 2023, replacement of the existing direct-pay letters of credit (LOCs) provided by Wells Fargo Bank N.A. with a new LOC provided by Sumitomo Mitsui Banking Corp., acting through its New York branch, for series 2009B and TD Bank N.A. for series 2009D. In addition, the interest-rate mode for series 2009B will be converted to the weekly rate mode from the daily rate mode. The long-term component jointly reflects, assuming low correlation, our long-term ratings on Parkview Health System Obligated Group, the obligor, and the respective LOC providers for each series and addresses our expectation for full and timely...

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