Summary: South Carolina Jobs Economic Development Authority Prisma Health; Letter Of Credit

S&P Global Ratings assigned its 'AA-/A-1+' rating to South Carolina Jobs-Economic Development Authority's series 2018C hospital revenue bonds, issued for Prisma Health, formerly known as SC Health Co. The rating reflects the June 13, 2024, remarketing of the series 2018C bonds following the conversion of the interest-rate mode to the daily rate mode from the R-FLOATs mode and the addition of credit-and-liquidity support in the form of a direct-pay letter of credit (LOC) from TD Bank N.A. The bond rating reflects our rating on TD Bank N.A., the LOC provider, during the daily and weekly rate modes (the rated modes). The long-term component of the rating reflects our long-term issuer credit rating (ICR) on TD Bank N.A. and addresses our

...S&P Global Ratings assigned its '##-/A-1+' rating to South Carolina Jobs-Economic Development Authority's series 2018C hospital revenue bonds, issued for Prisma Health, formerly known as SC Health Co. The rating reflects the June 13, 2024, remarketing of the series 2018C bonds following the conversion of the interest-rate mode to the daily rate mode from the R-FLOATs mode and the addition of credit-and-liquidity support in the form of a direct-pay letter of credit (LOC) from TD Bank N.A. The bond rating reflects our rating on TD Bank N.A., the LOC provider, during the daily and weekly rate modes (the rated modes). The long-term component of the rating reflects our long-term issuer credit rating (ICR) on TD Bank N.A. and addresses our expectation of full and timely interest-and-principal payments when bondholders have not exercised the put option. The short-term component of our rating reflects our short-term ICR on TD Bank N.A. and addresses our expectation of full and timely interest-and-principal...

Summary