S&P Global Ratings has assigned an "AA-" long-term rating to Renton, Wash.-based Providence St. Joseph Health's $341 million of series 2016H and $341 million of series 2016I bonds.
"The rating assignment reflects PSJH's very strong enterprise profile characterized by excellent geographic and financial dispersion, generally strong market positions in its eight natural regionally centered markets and a strong, forward-looking management team that has moved very quickly to create a unified management and board structure for the newly formed organization," said S&P analyst Martin Arrick.
The outlook is stable, reflecting S&P's view of PSJH's favorable enterprise profile and financial profile that has been historically consistent with the current rating.