S&P: Legacy Health, OR $279 Million Series 2016A Bonds Assigned 'AA-' Rating
The ratings reflect our view of Legacy's very strong enterprise and financial profiles, with a solid share of the competitive Portland market and initiatives to operate under the changes associated with health reform, as well as its strong operating results and robust debt service coverage and improved balance sheet," said S&P Global Ratings credit analyst Allison Bretz. "Although the 2016 debt issuance will weaken the balance sheet somewhat, we believe Legacy has the flexibility to sustain the additional debt at the current rating."
The bonds will fund a tower project on Legacy's flagship campus in Portland and refund some of the system's existing debt.
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