Summary: Thomas Jefferson University, Pennsylvania; Hospital; System

S&P Global Ratings assigned its 'A' rating to Thomas Jefferson University (TJU), Pa.'s $431.1 million series 2022A taxable revenue bonds and Montgomery County Higher Education and Health Authority, Pa.'s $782.8 million series 2022B tax-exempt revenue bonds issued for TJU. At the same time, we affirmed our 'A' rating and underlying rating on revenue bonds issued for TJU and the Abington Memorial Hospital Obligated Group, Pa., by various authorities. The outlook on all ratings is stable. The bonds are expected to refinance various series of outstanding debt including TJU's series 2012, 2012A, and a portion of the 2017A fixed rate bonds and series 2018C variable rate bonds; refinance Albert Einstein Healthcare Network's (Einstein) series 2015A fixed rate bonds; repay a $305

...S&P Global Ratings assigned its 'A' rating to Thomas Jefferson University (TJU), Pa.'s $431.1 million series 2022A taxable revenue bonds and Montgomery County Higher Education and Health Authority, Pa.'s $782.8 million series 2022B tax-exempt revenue bonds issued for TJU. At the same time, we affirmed our 'A' rating and underlying rating on revenue bonds issued for TJU and the Abington Memorial Hospital Obligated Group, Pa., by various authorities. The outlook on all ratings is stable. The bonds are expected to refinance various series of outstanding debt including TJU's series 2012, 2012A, and a portion of the 2017A fixed rate bonds and series 2018C variable rate bonds; refinance Albert Einstein Healthcare Network's (Einstein) series 2015A fixed rate bonds; repay a $305 million line of credit draw used to purchase Temple University Health System's 50% ownership interest in Health Partners Plans (HPP); and repay an existing $91 million line of credit plus raise an additional $300 million...

Summary