S&P assigns 'BBB+' rating to CHI's bonds

S&P Global Ratings assigned its "BBB+" long-term rating on Englewood, Colo.-based Catholic Health Initiatives' proposed $275 million series 2018A bonds.

In April 2018, S&P raised its outlook on CHI's  rated debt to positive on its potential to merge with San Francisco-based Dignity Health. 

"The outlook revision to positive reflects CHI's potential combination with Dignity Health as outlined in its definitive merger agreement combined with incrementally improved, though still weak, performance of CHI's continuing operations," said S&P credit analyst Martin Arrick.

S&P also assigned the proposed bonds a positive outlook.

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