The following hospital and health system rating and outlook changes and affirmations took place in the last week, beginning with the most recent.
1. S&P revises Faith Regional Health Services outlook to stable
S&P Global Ratings affirmed its "BBB" rating on Norfolk, Neb.-based Faith Regional Health Services' series 2008A-1 and 2008A-2 bonds, issued by the Madison County Hospital Authority.
2. S&P downgrades Lucile Salter Packard Children's Hospital's debt to 'A+'
S&P Global Ratings downgraded Palo Alto, Calif.-based Lucile Salter Packard Children's Hospital's revenue bonds to "A+" from "AA-." The bonds were previously issued by the California Health Facilities Financing Authority.
3. Moody's assigns 'Aa2' rating to Cleveland Clinic Health System's bonds
Moody's Investors Service assigned its "Aa2" rating to Cleveland Clinic Health System's proposed $631 million series 2017A tax-exempt bonds and $164 million taxable series 2017B revenue refunding bonds, expected to sell Aug. 8. The bonds will mature in 2043 and will be issued by the Ohio Higher Educational Facility Commission.
4. Moody's assigns 'A3' rating to CareAlliance Health Service's bonds
Moody's Investors Service assigned its "A3" rating to North Charleston, S.C.-based CareAlliance Health Service's $70 million series 2016B bonds that were sold at face value in November 2016. The bonds will mature in 2041.
5. Moody's affirms 'A1' rating on City of Hope
Moody's Investors Service affirmed its "A1" rating on Duarte, Calif.-based City of Hope's revenue bonds, affecting $575 million of rated debt.
6. S&P assigns 'BBB' rating to Virginia Mason Medical Center's 2017 bonds
S&P Global Ratings assigned its "BBB" rating to Seattle-based Virginia Mason Medical Center's series 2017 revenue bonds issued by the Washington Health Care Facilities Authority. The series 2017 bonds will refund series 2007A-C and 1997B for present value savings.
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