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Article: Fitch Rates Baptist Health Care Corp.'s (Pensacola, FL) Bonds 'BBB+'; Outlook Stable.
- Article from:
- Health & Beauty Close-Up
- Article date:
- November 13, 2009
CopyrightCOPYRIGHT 2009 Close-Up Media, Inc. 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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Fitch Ratings has assigned a 'BBB+' rating to Baptist Health Care Corp.'s (Pensacola, FL) (BHCC) $220.5 million series 2009 A-C bonds.
The series 2009A bonds are expected to be issued through the Escambia County Health Facilities Authority. The series 2009B and the series 2009C (if issued) are taxable corporate securities and will be issued by Baptist Hospital, Inc. The Rating Outlook is Stable.
The series 2009 bonds will be issued to refund BHCC's existing indebtedness, fund approximately $45 million of capital expenditures, refinance indebtedness associated with the Physician Office Building (POB) and Andrews Institute and to reimburse BHCC for prior ...