CUSIP 74442CBS2


  • ISIN: US74442CBS26
  • Entity Name: Public Finance Authority
  • Sector: Municipal Agency
  • Announcement Date: *****
  • Effective Date: *****
  • Issue Date: *****
  • Maturity Date: *****
  • Country of Issuer: *****
  • Region: N.Amer
  • Issue Currency: *****
  • CA Type: Rating Upgrade
  • News: S&P Global Ratings raised its long-term rating and underlying (SPUR) rating on Public Finance Authority, Wis.` series 2016A bonds, issued for Renown Regional Medical Center (Renown), Nev. to `A+` from `A`. The outlook is stable. At the same time, we affirmed our `AA+/A-1` rating on Renown`s series 2009A and 2009B variable-rate demand bonds (VRDBs) and our `AA+/A-1` rating on Renown`s series 2008A and 2008B VRDBs based on the application of our joint criteria assuming low correlation. ""The rating change reflects the application of the U.S. And Canadian Not-For-Profit Acute Care Health Care Organizations (/en_US/web/guest/article/-/view/source Id/10407192) criteria, published on March 19, 2018, as well as Renown`s strong business position, leading market share, and revenue diversity as a stand-alone hospital,"" said S&P Global Ratings credit analyst Melanie Her. ""The rating further reflects our expectations that Renown`s balance sheet metrics will remain strong and intact over the outlook horizon. While operating margin has declined over the past year, we expect Renown will maintain stable and healthy operating performance going forward,"" Ms. Her added. The long-term component of the rating is based jointly on Renown`s SPUR and the long-term rating of the letter of credit (LOC) bank, while the short-term ratings are based solely on our rating on the bank. The LOC on the series 2008 bonds with Union Bank of California expires Dec. 1, 2018, which management expects to renew. The LOC on the series 2009 bonds with Wells Fargo Bank, N.A. expires Aug. 31, 2019.
  • Description: *****
  • Bond Document: https://www.bondpdf.com/
  • Latest Corporate Actions: https://www.CAalerts.com/credit-corporate-action/ISIN/US74442CBS26

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