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

S&P Global Ratings' long-term rating and underlying rating (SPUR) on Salem Hospital Facility Authority, Ore.'s bonds issued for Salem Health is 'A+'. The outlook is stable. In addition, the rating on Salem Health's series 2008B variable-rate demand bonds (VRDBs) is 'AA+/A-1+'. 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 continue to reflect Salem's excellent market position, as the sole provider of most acute care services in its midsize primary service area. The hospital continues to grow its footprint across this market

...S&P Global Ratings' long-term rating and underlying rating (SPUR) on Salem Hospital Facility Authority, Ore.'s bonds issued for Salem Health is 'A+'. The outlook is stable. In addition, the rating on Salem Health's series 2008B variable-rate demand bonds (VRDBs) is '##+/A-1+'. 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 continue to reflect Salem's excellent market position, as the sole provider of most acute care services in its midsize primary service area. The hospital continues to grow its footprint across this market with the establishment of clinics and outpatient centers. Salem has also invested in its physician base, increasing its medical staff and strengthening relationships with independent physicians in the region. The rating also reflects Salem's...

Summary