Moody's rates Ascension Health debt Aa1/VMIG 1

Moody's Investors Service said it assigned ratings of Aa1/VMIG 1 to Ascension Health, Mo.'s $1.4 billion of series 2008 variable-rate bonds to be converted or issued through five states' health facilities authorities.

The new issues are $468.6 million of revenue bonds, series 2008E1 to E8, from Indiana Health Facilities Financing Authority; $525.4 million of revenue bonds, series 2008B1 to B8, from Michigan State Hospital Finance Authority; $295.375 million of revenue bonds, series 2008C1 to C5, from Missouri Health and Educational Facilities Authority; and $24.7 million of revenue bonds, series 2008D, from Idaho Health Facilities Authority.

The bonds to be converted are 56.2 million of revenue bonds, series 2002D, from Wisconsin Health & Educational Facilities Authority; $50.41 million of taxable revenue bonds, series 2002, from Heart Center of Indiana LLC; $39.3 million of taxable revenue bonds, series 2006, from Tucson Heart Hospital; and $32.7 million of revenue bonds, series 2002E, from the Indiana authority.

The outlook is stable.

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