At the same time, Fitch assigned its “AA-” rating to HPH’s proposed $96.9 million series 2018A and $57.6 million series 2018B revenue bonds. In addition, Fitch upgraded HPH’s outstanding revenue bond ratings to “AA-” from “A+,” affecting $305 million of debt outstanding.
The assignment and upgrade are a result of several factors, including HPH’s strong market position, favorable operating results, favorable leverage metrics, modest debt position and sufficient cash flow.
The outlook is stable.
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