S&P gives AA-/A-1+ to St. Joseph Health, Calif., bonds

Standard & Poor's said it assigned an AA-/A-1+ rating to St. Joseph Health System, Calif.'s $243.925 million of series 2008 A to C hospital revenue bonds issued by the California Statewide Communities Development Authority and $51.5 million of series 2008A hospital revenue bonds issued by the Lubbock Health Facility Development Corp., Texas.

The short-term rating is based on St. Joseph's liquidity.

S&P also said it affirmed its AA- rating and underlying rating on the system's outstanding debt.

The outlook is stable.

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