Standard&Poor's Ratings Services assigned its 'AA-' rating to Trinity Health, Mich.'s $284.0 million series 2003 revenue and refunding bonds. In addition, it affirmed its 'AA-' rating and underlying rating (SPUR) on the outstanding bonds issued for Trinity Health, the Mercy Health Services Obligated Group, and Mercy Mt. Clemens Corp. and its 'A-1+' rating on Trinity Health, Mich.'s $150 million ($20 million drawn at June 30, 2003) commercial paper notes. The 'AA-' rating is based on the health system's Very strong (3.8x) historical pro forma debt service coverage and light 2.4% pro forma debt burden in the fiscal year ended June 30, 2003; Large size and excellent geographic and financial risk dispersion with $5 billion in annual revenues generated
