S&P rates four states' Ascension Health bonds AA/A-1+

Standard & Poor's said it assigned an AA/A-1+ dual rating to Michigan State Hospital Finance Authority's $525.4 million of series 2008B1 to B8 variable-rate demand obligations (VRDOs), Indiana Health Facilities Financing Authority's $177.15 million of series 2008E1 to E3 VRDOs and Idaho Health Facilities Authority's $24.7 million of series 2003D VRDOs, all issued for Ascension Health.

The bonds are being converted to VRDOs from auction-rate bonds.

At the same time, S&P said it assigned an AA rating to Missouri Health and Educational Facilities Authority's $102.05 million of series 2008C4 and 2008C5 serial-mode bonds and to the Indiana authority's $224.175 million of series 2008E4, 2008E5, 2008E7 and 2008E8 serial-mode bonds, all issued for Ascension.

S&P also said it affirmed the AA long-term rating on the Missouri authority's series 2003C1 to C3 serial-mode bonds, the Indiana authority's series 2003E6 serial-mode bonds and series 2002E serial-mode bonds, and the Wisconsin authority's series 2002D serial-mode bonds, all issued for Ascension.

The outlook is positive.

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