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| Prospect News home > News index > List of issuers I > Headlines for Indiana Health Facility Financing Authority > News item |
S&P ups Community Foundation of N.W. Indiana to BBB
Standard & Poor's said it raised its underlying rating to BBB from BBB- on Indiana Health Facilities Financing Authority's $150.84 million series 2007 bonds, $60 million series 2004A bonds and $55.7 million series 2001A bonds issued for Community Foundation of Northwest Indiana Obligated Group. S&P also raised its dual rating to AA+/A-1, based on a letter of credit from Harris NA (rated A+A-1).
The upgrade reflects consistently sound operating income for several fiscal years, a strong performance between June 2007 and May 2008 and improved cash reserves, the agency said.
The outlook is stable.
The foundation is planning a $30 million bond issuance, S&P said, of which $7 million will refinance existing debt.
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