S&P assigns 'AA+' rating to Ascension Health's bonds

Standard & Poor's Ratings Services has assigned an "AA+" rating to St. Louis-based Ascension Health's following bonds:

  • $928.2 million of series 2016A bonds
  • $78.1 million of series 2016B bonds
  • $91.7 million of series 2016C bonds
  • $250 million of 2016A taxable bonds

"The ratings reflect our view of Ascension's excellent geographic and financial dispersion as the largest nongovernmental not-for-profit health system in the country; continued robust financial performance in fiscal 2016, as per our unaudited second quarter results through December 2015; significant unrestricted liquidity; and strong management practices," said S&P credit analyst Kevin Holloran.

The rating outlook is stable, reflecting S&P's view that Ascension's strong operations and considerable liquidity position will likely remain unchanged in the next two years.

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