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Article: Fitch Rts FirstHealth of the Carolinas' (North Carolina) Ser 2009C Bonds 'AA'; Affirms Outstanding.
- Article from:
- Business Wire
- Article date:
- October 29, 2009
CopyrightCOPYRIGHT 2009 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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TAMPA, Fla. -- Fitch Ratings has assigned an 'AA' rating to FirstHealth of the Carolinas' (FirstHealth) $39,660,000 series 2009C fixed-rate bonds expected to be issued through the North Carolina Medical Care Commission. The proceeds of the 2009C bonds will be used to refinance portions of FirstHealth's 2002, 2008B and 2009B bonds. FirstHealth also plans to issue two series of bank qualified bonds to refund approximately $70.5 million of outstanding variable-rate demand bonds (series 2009B and series 2008A). The refinancing will serve to reduce FirstHealth's variable-rate demand bond risk and diversify its debt structure. Fitch was not asked to rate the bank qualified ...