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Fitch Rates Adventist Health System Sunbelt (FL) 2008B Revs & 2009E Rfdg Bonds 'AA-'; Outlook Stable.

Publication: Business Wire
Publication Date: 02-NOV-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Fitch Ratings assigns an 'AA-' long-term rating to the following Adventist Health System Sunbelt bonds:

--$125,000,000 Highlands County Health Facilities Authority hospital revenue bonds, series 2008B;

--$62,520,000 Highlands County Health Facilities Authority hospital revenue refunding bonds, series 2009E.

In addition, Fitch affirms at 'AA-' Adventist's outstanding long-term indebtedness and at 'F1+' its short-term rating on Adventist's variable-rate debt supported by self-liquidity.

The Rating Outlook is Stable.

The series 2008B bonds are being called for mandatory tender and are expected to be converted to fixed rate mode. The proceeds of the series 2009E bonds will be used to refund the Orange County Health Facilities Authority hospital revenue bonds, series...

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