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Article: Fitch Affirms Stanly Health Services NC Bonds at 'BBB+'; Outlook Stable.
- Article from:
- Managed Care Weekly Digest
- Article date:
- October 19, 2009
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Fitch Ratings affirms the 'BBB+' rating on the North Carolina Medical Care Commission's (NCMCC) series 1999 bonds, issued for Stanly Health Services. In addition, Fitch affirms the underlying rating of 'BBB+' on $28.99 million of NCMCC healthcare facilities revenue bonds (Stanly Memorial Hospital Project) series 1996. The series 1996 bonds are insured by Ambac Insurance Corp, which is not rated by Fitch. The Rating Outlook is Stable (see also Fitch Ratings).
The 'BBB+' rating affirmation is based on Stanly's strong market position, improved liquidity, manageable debt burden, and ongoing relationship with Carolinas HealthCare System (CHS) enhanced by the signing ...