Summary: Reid Hospital, Indiana; Hospital

S&P Global Ratings assigned its 'A-' long-term rating to Richmond Hospital Authority, Ind.'s $33 million series 2016B revenue refunding bonds, issued for Reid Hospital (doing business as Reid Health) and directly purchased by Deutsche Bank. At the same time, S&P Global Ratings affirmed its 'A-' long-term rating on the authority's $90.2 million series 2015A fixed-rate bonds, issued for Reid Hospital. The outlook is stable. We recently lowered our rating on Reid Health to 'A-' in January 2017. At that time, we fully incorporated the 2016A (Siemens) and 2016B (Deutsche Bank) issuance of direct placement debt totaling $69.54 million that refunded a prior direct placement with JPMorgan. At the time of our last review, we incorporated the above issuance but Reid

...S&P Global Ratings assigned its 'A-' long-term rating to Richmond Hospital Authority, Ind.'s $33 million series 2016B revenue refunding bonds, issued for Reid Hospital (doing business as Reid Health) and directly purchased by Deutsche Bank. At the same time, S&P Global Ratings affirmed its 'A-' long-term rating on the authority's $90.2 million series 2015A fixed-rate bonds, issued for Reid Hospital. The outlook is stable. We recently lowered our rating on Reid Health to 'A-' in January 2017. At that time, we fully incorporated the 2016A (Siemens) and 2016B (Deutsche Bank) issuance of direct placement debt totaling $69.54 million that refunded a prior direct placement with JPMorgan. At the time of our last review, we incorporated the above issuance but Reid Health was recently approached by Deutsche Bank to formally rate its $33 million portion of the direct placement debt. The direct placement is secured under the master trust indenture and fixed rate debt; there is language that requires...

Summary