S&P Global Ratings assigned its 'BBB' long-term rating to Marin General Hospital, Calif.'s $100 million series 2023 taxable fixed-rate bonds. The outlook is stable. The series 2018 revenue bonds (rated by S&P Global Ratings) are secured by gross revenues of Marin. The expected series 2023 taxable revenue bonds will also be secured by gross revenues of Marin. The series 2015 and 2017 GO bonds (which S&P Global Ratings does not rate) are secured by unlimited ad valorem property taxes levied on all taxable property within the district's boundaries. The series 2023 bond proceeds will be used to fund Marin's pension to reduce premiums ($17 million-$18 million) and the remainder will be used to bolster balance sheet liquidity and days' cash
