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Fitch Rates Baptist Healthcare System Obligated Group's 2009B VRDBs 'AA+/F1+'.

Publication: Business Wire
Publication Date: 12-FEB-09
Format: Online
Delivery: Immediate Online Access

Article Excerpt
NEW YORK -- Fitch Ratings assigns a rating of 'AA+/F1+' to each subseries of the $284,435,000 Kentucky Economic Development Finance Authority, variable rate demand hospital revenue bonds, series 2009B (Baptist Healthcare System Obligated Group) consisting of:

--$66,065,000 series 2009B-1;

--$65,660,000 series 2009B-2;

--$76,555,000 series 2009B-3;

--$76,155,000 series 2009B-4.

The 'AA+' long-term ratings assigned to the bonds are based jointly on Fitch's rating of Baptist Healthcare System Obligated Group's (BHS) hospital revenue bonds (currently rated 'AA-') and the irrevocable direct-pay letters of credit (LOCs) provided by: JPMorgan Chase Bank, N.A. (currently rated 'AA-/F1+') with respect to the series 2009B-1 and B-2 bonds; and Branch Banking and Trust Company (currently rated...

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