OREANDA-NEWS. S&P Global Ratings assigned its 'A+' long-term rating to the Indiana Finance Authority's (IFA) series 2016A fixed-rate revenue bonds. At the same time, S&P Global Ratings affirmed its 'A+' long-term rating on the IFA's series 2011A, 2013A, and 2015A fixed-rate revenue bonds. All bonds were issued for Deaconess Health System Inc. (Deaconess). The outlook is stable.

"The 'A+' rating continues to reflect our view of Deaconess' exceptional pro forma maximum annual debt service, excellent business position, remarkable cash flow, and improving balance sheet ratios," said S&P Global Ratings credit analyst Brian Williamson.

Deaconess will use the proceeds of the 2016A bonds to construct a new patient tower on the Gateway Campus and the $53 million 2016B direct placement bond proceeds to construct a new medical office building (MOB) and to expand the energy center, both on the Gateway Campus.

The stable outlook continues to reflect our view that while Deaconess constructs a new patient tower and MOB, it will maintain stellar operating performance, a solid balance sheet, and a favorable business position.