Summary: Salem Hospital Facilities Authority, Oregon Salem Health; Hospital; Joint Criteria

S&P Global Ratings assigned its 'A+' long-term rating on Salem Hospital Facility Authority, Ore.'s series 2016A revenue refunding bonds issued for Salem Health. S&P Global Ratings also affirmed its existing 'A+' long-term ratings and SPUR on Salem Health. The outlook is stable. In addition, S&P Global Ratings affirmed its 'AA+/A-1+' rating on Salem Health's series 2008B variable-rate demand bonds (VRDBs). The long-term component of the rating is based jointly on the rating of Salem Health and the letter of credit (LOC) provider, U.S. Bank N.A. assuming low correlation. The short-term component of the rating is based solely on the short-term rating on the LOC provider. The rating assignment and affirmation reflects maintenance of a very strong financial profile combined with

...S&P Global Ratings assigned its 'A+' long-term rating on Salem Hospital Facility Authority, Ore.'s series 2016A revenue refunding bonds issued for Salem Health. S&P Global Ratings also affirmed its existing 'A+' long-term ratings and SPUR on Salem Health. The outlook is stable. In addition, S&P Global Ratings affirmed its '##+/A-1+' rating on Salem Health's series 2008B variable-rate demand bonds (VRDBs). The long-term component of the rating is based jointly on the rating of Salem Health and the letter of credit (LOC) provider, U.S. Bank N.A. assuming low correlation. The short-term component of the rating is based solely on the short-term rating on the LOC provider. The rating assignment and affirmation reflects maintenance of a very strong financial profile combined with a strong enterprise profile. The rating also reflects the sharp reduction in pro forma maximum annual debt service (MADS) and improved MADS coverage as a result of this refunding transaction. Salem Health's financial...

Summary