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Article: Fitch Affirms Essentia Health (Minnesota) Outstanding Revs at 'A-'; Outlook Stable.
- Article from:
- Business Wire
- Article date:
- November 29, 2007
CopyrightCOPYRIGHT 2007 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 has affirmed its underlying rating on $326.4 million of outstanding debt issued on behalf of Essentia Health (formerly known as the Benedictine Health System-St. Mary's Duluth Clinic Health System Obligated Group) at 'A-'. Some of the series are rated 'AAA' based on the insurer financial strength (IFS) of MBIA and Ambac Assurance Corp.
The rating affirmation takes into account Essestia Health's (Essentia) plans to issue approximately $385 million of debt in early 2008. The new debt is expected to refund approximately $242 million of outstanding debt and to fund approximately $144 million of costs associated with an acquisition of Dakota Clinic ...