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Article: Fitch Rates Bayhealth Medical Center, DE's 2009B&C Revs 'AA-' Underlying; Outlook Stable.
- Article from:
- Investment Weekly News
- Article date:
- November 14, 2009
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Fitch Ratings has assigned an 'AA-' underlying rating to $75.7 million of Delaware Health Facilities Authority variable rate refunding revenue bonds issued on behalf of Bayhealth Medical Center Project (Bayhealth), series 2009B and C. Fitch has also affirmed the 'AA-' rating on Bayhealth's outstanding long-term debt.
The Rating Outlook is Stable.
The series 2009 B and C bonds are supported by two separate letters of credit from PNC Bank and Wachovia Bank. Proceeds will be used to refinance Bayhealth's series 2002 and 2003 auction rate bonds. Fitch was not asked to assign ratings based on bank support for the series 2009B and C bonds.
The ...