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

S&P Global Ratings affirmed its 'A+' long-term rating and underlying rating (SPUR) on Salem Hospital Facility Authority, Ore.'s bonds issued for 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 ratings reflect Salem Health's very strong financial profile, with stable and sustained financial performance over the recent past, including a solid operating performance in fiscal 2017 and year-to-date fiscal

...S&P Global Ratings affirmed its 'A+' long-term rating and underlying rating (SPUR) on Salem Hospital Facility Authority, Ore.'s bonds issued for 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 ratings reflect Salem Health's very strong financial profile, with stable and sustained financial performance over the recent past, including a solid operating performance in fiscal 2017 and year-to-date fiscal 2018 (through Nov. 30, 2017), supported by healthy patient volumes and an ongoing focus on expense management. Our view of the financial profile also incorporates Salem Health's excellent maximum annual debt...

Summary