Standard & Poor's Ratings Services has assigned an "A+" rating to Kansas City, Mo.-based Saint Luke's Health System's series 2016 revenue bonds.
SLHS will use proceeds from the 2016 bonds to refund its 2003 and 2005 bonds in their entirety.
"We think the refunding moves the system's debt profile into a more conservative allocation of fixed and variable rate debt, and recognize that the entire refunding transaction provides significant net present value savings," said S&P credit analyst Jennifer Soule.
The outlook is stable.