S&P: Deaconess Health System Inc., IN Revenue Bonds Assigned 'A+' Rating
"The 'A+' rating continues to reflect our view of Deaconess' exceptional pro forma maximum annual debt service, excellent business position, remarkable cash flow, and improving balance sheet ratios," said S&P Global Ratings credit analyst Brian Williamson.
Deaconess will use the proceeds of the 2016A bonds to construct a new patient tower on the Gateway Campus and the $53 million 2016B direct placement bond proceeds to construct a new medical office building (MOB) and to expand the energy center, both on the Gateway Campus.
The stable outlook continues to reflect our view that while Deaconess constructs a new patient tower and MOB, it will maintain stellar operating performance, a solid balance sheet, and a favorable business position.
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