The rating on North Carolina Medical Care Commission's bonds, issued for Mission St. Joseph's Health System Inc., reflects the health system's: * Role as the dominant health system in western North Carolina, a region encompassing the 14 westernmost counties of the state; * Historically strong financial performance and liquidity; and * Good management and strategic planning. Currently, the parent corporation -- Mission St. Joseph's Health System -- is the obligated group's only member, but it controls the hospitals and other designated members and holds substantially all system cash and investments. Proceeds will be used for the acquisition of St. Joseph's Hospital in Asheville and to refinance about $45 million of existing debt previously issued for St. Joseph's Hospital. Mission St.
