Article: Fitch Rates St Elizabeth Medical Center (KY) 2009 Bonds 'AA-' & Upgrades Outstanding; Outlook Stable.

NEW YORK -- Fitch Ratings has assigned a 'AA-' rating to the expected issuance of approximately $140 million Kentucky Economic Development Finance Authority hospital facilities revenue refunding and improvement bonds (Saint Elizabeth Medical Center, Inc. Project). Fitch also upgrades the rating on St. Elizabeth Medical Center's (St. Elizabeth) outstanding debt to 'AA-' from 'A+'. The Rating Outlook is Stable.

The bonds will be issued in two series, approximately $101.9 million in fixed rate bonds and approximately $38.2 million in variable rate demand bonds (VRDBs) that will be supported by an irrevocable letter of credit (LOC) from JPMorgan Chase Bank. The ...

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