Standard&Poor's Ratings Services affirmed its 'AA+' unenhanced rating and 'AA+' underlying rating (SPUR) on various issuers' revenue bonds, issued for Intermountain Health Care Inc. (Intermountain), which is the state's largest integrated delivery system. The rating reflects Intermountain's strong business position in the economically robust state of Utah, consistently strong financial performance (see table 1), considerable financial flexibility especially in its rates, and a balance sheet that is sound but not stellar for the rating, which will be moderately strained over the next few years as Intermountain is expected to add $200 million to $300 million of new debt in 2008, while also continuing to spend heavily on capital. More specifically, the long-term rating on IHC Health Services' bonds
