The 2014A bonds are expected to be issued as fixed rate bonds, and the proceeds will be used to refund the series 2006 and 2009A bonds that were issued on behalf of Ball Memorial Hospital in Muncie, Ind., which was acquired by IU Health in 2008.
The rating assignment and outlook revision were supported by a number of factors, including IU Health’s strong market position. The system has a 27.8 percent market share, which is the leading share in its primary service area.
The rating assignment was also supported by IU Health’s improved liquidity. The system’s unrestricted cash and investments have increased 27 percent since fiscal year 2012 to $3.3 billion as of June 30.
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