Summary: Oklahoma Development Finance Authority OU Medicine Inc.; Hospital

S&P Global Ratings revised its outlook to stable from negative and affirmed its 'BB-' long-term rating on the Oklahoma Development Finance Authority's series 2018B tax-exempt fixed-rate bonds and series 2018C taxable fixed-rate bonds, issued for OU Medicine Inc. (OUMI), now doing business as OU Health. In addition, we affirmed our 'BB-' underlying rating (SPUR) on the insured maturities of the authority's series 2018B and 2018C bonds, also issued for OUMI. The outlook on all ratings, where applicable, is stable. The stable outlook reflects our view that the financial profile has largely stabilized, with no further declines in year-end unrestricted reserves or added debt expected. In addition, despite immense sector labor and inflationary pressures, operations remained fairly resilient in fiscal 2023

...+ S&P Global Ratings revised its outlook to stable from negative and affirmed its '##-' long-term rating on the Oklahoma Development Finance Authority's series 2018B tax-exempt fixed-rate bonds and series 2018C taxable fixed-rate bonds, issued for OU Medicine Inc. (OUMI), now doing business as OU Health. + In addition, we affirmed our '##-' underlying rating (SPUR) on the insured maturities of the authority's series 2018B and 2018C bonds, also issued for OUMI. + The outlook on all ratings, where applicable, is stable. + The stable outlook reflects our view that the financial profile has largely stabilized, with no further declines in year-end unrestricted reserves or added debt expected. In addition, despite immense sector labor and inflationary pressures, operations remained fairly resilient in fiscal 2023 supporting projected year-end debt service coverage of 1.5x. Management also notes compliance with its 45 days' cash on hand (DCOH) covenant for fiscal 2023, with further reserve tailwinds...

Summary