Summary: Missouri Health&Educational Facilities Authority Lake Regional Health System; Hospital

S&P Global Ratings' assigned its 'BBB+' long-term rating to the Missouri Health&Educational Facilities Authority's $51.2 million series 2021 fixed-rate revenue bonds, issued for Lake Regional Health System (LRHS). At the same time, S&P Global Ratings affirmed its 'BBB+' long-term rating the series 2012 fixed rate revenue bonds. The outlook is stable. The series 2021 bonds as well as $10 million in premium, will be used to fund the Lebanon outpatient facility project at a cost of $20 million and refund the series 2016 bonds ($12.4 million). Additionally, funds will be used to reimburse previous capital spending of $15 million, to fund future routine capital expenditures of $10 million, and to pay capitalized interest and the cost of issuance.

...S&P Global Ratings' assigned its '###+' long-term rating to the Missouri Health & Educational Facilities Authority's $51.2 million series 2021 fixed-rate revenue bonds, issued for Lake Regional Health System (LRHS). At the same time, S&P Global Ratings affirmed its '###+' long-term rating the series 2012 fixed rate revenue bonds. The outlook is stable. The series 2021 bonds as well as $10 million in premium, will be used to fund the Lebanon outpatient facility project at a cost of $20 million and refund the series 2016 bonds ($12.4 million). Additionally, funds will be used to reimburse previous capital spending of $15 million, to fund future routine capital expenditures of $10 million, and to pay capitalized interest and the cost of issuance. Finally, LRHS will use its own cash ($14.7 million) and a debt service reserve fund for defeasance of the series 2012 bonds, prior to closing. The series 2021 bonds will be secured by a pledge of the gross receivables of the obligated group....

Summary