Standard&Poor's Ratings Services assigned its 'AA' rating to the Iowa Board of Regents' $20.945 million series 2011A hospital revenue refunding bonds issued for University of Iowa Hospitals and Clinics (UIHC). At the same time, Standard&Poor's affirmed its 'AA' long-term rating on UIHC's series 2011, 2010, 2009, 2007, and 2007A bonds outstanding totaling $173 million. The outlook is stable. Proceeds from the series 2011A issuance will fully advance refund UIHC's series 2002 bonds outstanding. No new money is part of this financing other than costs of issuance. The rating reflects our view of the system's very strong financial profile and debt service coverage, combined with its excellent business position. More specifically, the rating reflects our opinion of
