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Article: Fitch Rates Duke University Health System, North Carolina Revs 'AA'.
- Article from:
- Business Wire
- Article date:
- October 23, 2006
CopyrightCOPYRIGHT 2006 Business Wire. This material is published under license from the publisher through the Gale Group, Farmington Hills, Michigan. All inquiries regarding rights should be directed to the Gale Group. (Hide copyright information)
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NEW YORK -- Fitch Ratings has assigned a 'AA' rating to the $151.1 million North Carolina Medical Care Commission Hospital revenue bonds (Duke University Hospital Project), series 2006 A & B. In addition, Fitch affirms the 'AA' rating on approximately $435.6 million of outstanding bonds issued on behalf of Duke University Health System Health System. The Rating Outlook is Stable.
The series 2006 bonds will be structured as weekly variable-rate 5-year 'index put bonds'. Bond proceeds will be used to fund various capital improvements, repay a bank line of credit and to pay associated costs of issuance. The bonds are expected to be purchased by Citigroup through ...