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S&P rates Spectrum Health, Mich., debt AA
Standard & Poor's said it assigned an AA standard long-term rating to Kent Hospital Financing Authority, Mich.'s $227.32 million in three tranches of series 2008A hospital revenue bonds issued for Spectrum Health Systems.
At the same time, S&P said it assigned an AA underlying rating to the authority's $237.5 million in three tranches of series 2008B bonds issued for Spectrum.
S&P also said it affirmed the AA rating on the authority's existing debt issued for Spectrum.
The outlook is negative.
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