Summary: New Jersey Health Care Facilities Financing Authority Virtua Health Inc.; Joint Criteria; System

S&P Global Ratings revised its outlook to negative from stable and affirmed its 'AA-' long-term rating on New Jersey Health Care Facilities Financing Authority's series 2013 bonds issued for Virtua Health Inc. (Virtua). At the same time, S&P Global Ratings revised its outlook to negative from stable and affirmed its 'AA-' underlying ratings (SPUR) on the series 2009B, 2009C, 2009D, and 2009E bonds issued by the authority for Virtua Health. S&P Global Ratings also affirmed its 'AA+/A-1' rating on the series 2009B and 2009C variable-rate demand bonds and its 'AAA/A-1+' rating on the series 2009D and 2009E variable-rate demand bonds issued by the authority for Virtua Health. We based these ratings on the application of joint criteria, whereby the bonds

...S&P Global Ratings revised its outlook to negative from stable and affirmed its '##-' long-term rating on New Jersey Health Care Facilities Financing Authority's series 2013 bonds issued for Virtua Health Inc. (Virtua). At the same time, S&P Global Ratings revised its outlook to negative from stable and affirmed its '##-' underlying ratings (SPUR) on the series 2009B, 2009C, 2009D, and 2009E bonds issued by the authority for Virtua Health. S&P Global Ratings also affirmed its '##+/A-1' rating on the series 2009B and 2009C variable-rate demand bonds and its '###/A-1+' rating on the series 2009D and 2009E variable-rate demand bonds issued by the authority for Virtua Health. We based these ratings on the application of joint criteria, whereby the bonds are secured by both Virtua Health and JPMorgan Chase Bank N.A. (series 2009B and 2009C) or TD Bank (series 2009D and 2009E). The '##+' and '###' long-term components of the ratings are based jointly on the credit ratings on Virtua Health and...

Summary